Friends are complaining that they can’t find a home in any suburbs, that traffic is horrible in lots of different quaint towns, that the post-COVID real estate boom has ruined many sleepy upstate burgs. Even Brooklyn is at all-time highs….
Not here!! Manhattan is one of the only markets in the United States that is below its all-time peak pricing. It’s still 5-10% below market tops of 2016-2018. So I have to ask you- amidst all of the other noise – is it possible that the last great real estate deals in the US are right here in New York?
With over 40% of our transactions happening without financing amidst the lowest lending environment in United States History, what happens now that rates rise? All-cash buyers will keep coming out of the woodwork to try and take advantage of lower prices.
If we see any price softening, it will be welcome news for buyers, but as I wrote in another post– it isn’t worth waiting while mortgage rates rise. Go and get your deals now!! -Scott