“2020, the longest 20 years of my life…”
That gave me a good laugh this month. The funny clients you meet here in NYC!
It’s Economics 101, perfectly displayed in the New York City real estate market. The law of supply & demand are in full effect. As a real estate agent, we have a front row seat.
This month it was reported that there are over 13,000 vacant apartments in NYC. There is your supply. However, we are missing the demand. There are a lot fewer renters in the market, although demand does seem to be picking up.
August is always a slow month in the sales market, and this month was no different.
Properly priced apartments receive a lot of interest, however buyers are very hesitant to pull the trigger. There is still a lot of uncertainty.
Spotlight this month is on the question, “Is New York Dead?”. There was a battle of opinion pieces on the subject this month. Last time this was up for discussion was 1975…
