Is The Tail Wagging The Dog?
3.9% Unemployment rate
Deregulation in full swing
Then why this from Bloomberg? Why Manhattan Home Prices Are Sliding
And this from StreetEasy? Most Price Cut Since 2010
Sellers have been feeling the pitch since 2016, but two years later — after much fanfare in the aforementioned stats — the housing market is finally getting its chance to wag. In Q2 2018, what agents have been feeling and whispering about for the past 30 months was finally being reported, namely that there are big changes coming. What, when and how those changes will materialize still remains a mystery, but the are on the horizon.
With so much uncertainty in the market, can buyers purchase with confidence and can sellers sell without losing everything?
Buyers can move forward with confidence because they are buying shelter — a necessity, a home, as well as an asset and investment. Sellers can be confident if they get realistic. If there’s equity in the property, it might be less than before, but if they price wisely with current market in mind, do the necessary prep work prior to listing and have expectations that are based in today’s reality, the market can be extremely generous.
The team at Compass has compiled the borough's most notable data of the past quarter—take a look right here.
Don't Miss Out!
Summer Restaurant Week
July 23 - August 17, 2018
Love a three-course meal but hate the price? From July 23-August 17, take advantage of lunch or dinner specials at 300 of the city's top restaurants during NYC Restaurant Week. For more information, click here.
August Saturdays 7am - 1pm
Grab your bike - Summer Streets returns this month, turning Park Avenue into a car-free pedestrian path on three August Saturdays from 7 a.m. to 1 p.m. You can find out more about the program, which features activities, food stands, and more, in this article.
Lincoln Center - Out of Doors
August 1 - 12, 2018
Art goes outside with Lincoln Center's Out of Doors program, bringing three weeks of world-class music, dance, and spoken word to the plaza for the public to enjoy. Check out the schedule here.