Manhattan Market Intelligence

As discussed last week, the Federal Reserve’s rate cut won’t immediately affect mortgage rates , so we shouldn’t expect a flurry of sales activity right away. In fact, we may not see a significant uptick in the housing market for some time. Since most deals take 60 to 120 days to close, the real impact likely won’t be felt for another three to four months .   Many buyers seem to be waiting for rates to drop further. As I mentioned last week, Greg Heym, Chief Economist at Brow

The Federal Reserve's long-anticipated rate cut became a reality yesterday, marking the first reduction in over four years. The key interest rate was slashed by 50 basis points —an unusually large cut—bringing the federal funds rate to a range of 4.75% to 5%. This decision surprised analysts, who had largely expected a more modest 25-basis-point cut, making the move both larger and more impactful than predicted.   While this long-awaited news might lead some to expect an imme

When it comes to home renovations, there's no specific time that's better than another—at least for New Yorkers. Renovations happen year-round, as costs and scheduling in NYC aren't impacted by seasonality the way they often are in the suburbs. That said, I like to cover this topic  at least once a year as a helpful refresher for anyone planning or in the midst of renovations.   For some, home renovation projects can be enjoyable, while others may find them overwhelming. Befo

A couple of weeks ago, I mentioned that we might soon see an uptick in demand as more buyers enter the market , thanks to the recent drop in inflation and an expected rate cut later this month. According to StreetEasy economist Kenny Lee, the most challenging times for NYC home buyers may be over  based on recent data.    In July, there was a 3.1 percent increase in new listings across NYC compared to last year, indicating that rate lock-in is starting to ease for sellers. Si