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Making Bold Statements About The Current Real Estate Market!


Making Bold Statements About The Current Real Estate Market!


Many news organizations were confident in their conclusion that the 4th quarter of 2022 was the “bottom" of the current real estate market / cycle in NYC.   February was considered “pre-spring", and we saw positive trends including:
  • An increase in buyer open house attendance across Manhattan & Brooklyn
  • 25% uptick in new mortgage applications
  • Mortgage rates at 4 month lows
  • New home builder sentiment the highest it has been in a year
Entering March, we were surprised to see mortgage rates jumping up half of a percent and new mortgage applications reported at 28-year lows across the US.  Has all the positive momentum been halted?
It's still early to conclude on 2023 - however, three things stand out specific to the NYC market:
  • Record low inventory levels
  • A unique cash heavy market with ~35% of total sales being all-cash without financing (compared to 22% across the US)
  • Landlords are still increasing rent on tenants across all neighborhoods, sizes, amenities and price points
I've been recording videos about how to properly market & price homes during this spring season!  Check them out below!

Recent Videos!


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