On Tuesday, The New York Times Co. announced that it will launch a real estate magazine this fall and will be distributed in the Sunday edition of its flagship newspaper.

According to the statement released by the company, Key magazine, the new publication, will feature residential properties as well as renovation and luxury lifestyle trends in home design and furnishings. The magazine comes at a time when more economists predict that the U.S. residential real estate market is on the verge of stalling after several years of red-hot growth.

The chief executive of U.S. mortgage finance company Freddie Mac told Reuters in Paris on Tuesday that he expects a "material slowing" in the market, but not a crash. New York Times spokeswoman Diane McNulty said that the present real estate market is hot and they do real estate really well.

Diane McNulty also announced that the company will run a version of the magazine on its Web site. Many daily newspapers are trying to stop an exodus of readers, and with them advertising dollars, as more people seek free news on the Internet. The company said it will publish Key twice a year beginning in 2007. It also will be available on the nytimes.com Web site.

By M. Sese
http://realestatepress.org