A Perfect Storm For New York City Real Estate Buyers? Get Ready!
A Perfect Storm For New York City Real Estate Buyers? Get Ready! Still, while there might not be a single reason behind the drop in activity, one thing is clear: ... [ ] this summer, a long-awaited window of opportunity likely will open for buyers. NYC Real Estate Lags the Markets A comparison of NYC real estate to various other types of markets suggests that even as broad market indices, such as the S&P 500 and NASDAQ, have moved meaningfully lower, New York City's real estate deal volume has yet to follow suit. Falling asset prices tend to pause buyers and slow the market. A slower market means less competition for buyers, leading to wider spreads between bid and ask. While the Market Pulse has been in seller market territory since late 2020, at the current rate, it will most likely slip into neutral market territory by mid-summer. Still, the balance of power seems to be shifting to buyers from the sellers, just as the market is heading into the typically slow summer season. Lastly, because seasonality is returning to the market, buyers should remember that demand will likely pick up in the early fall.