A Good Time To Make A Deal: New York Real Estate In Q1 2023 New York City’s real estate market reacted strongly to the economic uncertainty of 2023’s first quarter. Many buyers throughout our market put their plans on hold after the 50 basis point increase in the Fed rate during December (which followed several 75 basis point increases). Mortgage rates continued to rise. Continue Reading
We’re still in a sellers’ market. And if you’re looking to buy a home, you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind; there are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here are a few of them. Long-Term Benefits Outweigh Short-Term Challenges of Continue Reading
There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s home-buying ability. And after several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing. Even though we’re no longer seeing the buyer frenzy that drove home Continue Reading
Manhattan Market Report for the week ending March 31st, 2023, Supply closed out at 6,711 and trended upward. Pending Sales at 2,698 and off-market listings (delisting) maintain the market pulse at a .41% level. The market’s liquidity is trending upward. The Report Additionally, “With affluent individuals from overseas stepping back into the game to purchase their Continue Reading
Wondering if you should sell your home this year? As you make your decision, think about what’s motivating you to consider moving. A recent survey from realtor.com asked why homeowners are considering selling their homes this year. Here are the top two reasons (see graphic below): Let’s break those reasons down and explore how they might resonate with you. 1. I Want To Take Continue Reading
This year, the 30-year fixed mortgage rate has been bouncing between 6% and 7%. If you’ve been on the fence about buying a home, knowing exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power is helpful. The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment: Even a 0.5% change can Continue Reading
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