If you’re trying to construct a picture of the quickly changing real estate market, we can help.
There is Lower Volatility Than Expected.
New York is the least volatile market in the US. Prices never reached new peaks, and rarely every drop more than 10%. If there are drops of more than 10%, such as 2020 COVID and Q4 2008 during the Great Recession, the rebound has been FAST.
Lower Inventory Than Expected
Inventory is actually about HALF of what is expected this time of year. How will that impact the price softening that so many of our clients are concerned (or happy) about?