Finally after two years of low volumes in the sales market, the first quarter of 2020 showed an increase in closings as sellers became more realistic about pricing.
It must be said that this trend, given it is based on closed sales, doesn’t fully reflect the most recent changes of the market conditions related to the coronavirus pandemic.
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We can replace the fear with the facts. The NYC real estate market has proven over the last centuries to be one of the safest and sought markets in the world and will be able to overcome this too.
Here follow excerpts from the analysis on the US real estate market of experts Brian Buffini and Lawrence Yun (Chief Economist at the National Association of Realtors):
We have faced many, many different crises in the past as a country.
No matter what, this is going to be a shorter-term situation than what ...
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Overall, monthly rents predicted to rise by 2% to $1,677
South Florida will see nearly 16,000 apartments delivered this year, leading rents to flatten in markets with added supply, according to a recently released report.
Fueled in part by population growth, the number of apartment deliveries will be nearly double the 8,871 units that were completed in South Florida last year, according to Berkadia’s annual report and 2020 forecast. That marks the highest number of annual ...
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Sales are still slowing down but at a lower rate. And this could imply that the trend might be turning around in the near future. We as brokers have experienced a busy month of December and we are starting to get more optimistic for 2020.
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JAN
2020
Many people in the industry predicted it: the number of transactions went down quite a bit – 14.2% YoY actually to 2,560 homes sold. As you may remember, many sales were pulled into the previous quarter in order to avoid the, well known and much discussed, Mansion Tax hikes. That generated a sense of “fake” recovery and we now know for a fact it was a “fake”!
