The Market is Worse Than You Imagined - Really?

The market is worse than you imagined. This was the cover story of Sunday's New York Times Real Estate Section. You'd expect the New York Times to be focusing on the New York City market, right? Not so. This article discussed national trends.

As we all know, the most useful market information is local. The article does contain some, but read it carefully. There's a graph headlined "Listings Are Piling Up" that lists fifty major metropolitan areas, starting with the city with the highest inventory increase (Phoenix, up 167%) and descending to the lowest. Where is New York City, you may ask? Down near the bottom at #44, with a 9% decrease. That's a headline that wouldn't sell nearly as many papers, or garner nearly as many clicks.

Look, the market here is definitely in reset mode. Overall there's less activity and prices have come down a bit. But even that depends on on what we're talking about. A Park Slope townhouse and a Midtown East co-op studio are experiencing things very differently. It's far from a desperate situation.

Your best bet is to seek guidance from professionals who combine market knowledge with current boots on the ground experience. That's where we come in. And we make it easy! Please contact us to set up a time to talk.