Manhattan Market Intelligence

The latest report from the National Association of Realtors (NAR) shows that pending home sales dropped by 7.7 percent  in April. This decline is the steepest in three years and marks the lowest level since the start of the pandemic. Economists were expecting sales to remain unchanged from the previous month, making this decline a surprise. What doesn’t come as a surprise is that high mortgage rates remain the primary factor keeping buyers on the sidelines, despite April sale

I hope you had a wonderful Memorial Day holiday weekend. With summer here, albeit unofficially, it's the perfect time to enjoy more outdoor activities. In New York, private outdoor spaces have always been highly sought after, and their desirability has only increased post-pandemic. Balconies, terraces, and private gardens remain at the top of many buyers' "must-have" lists. Private outdoor spaces offer numerous lifestyle benefits and significant financial advantages. Apartmen

Last week, I highlighted some benefits of homeownership, particularly given NYC's exorbitantly high rents. Reportedly, only 5 percent of apartment rentals are affordable  on the average local worker’s salary. Some of you expressed interest in buying a home but had concerns about upfront costs, maintenance fees, taxes, and other expenses. To address these considerations, there are several financial tools available to help weigh the costs of buying versus renting. Fortunately,

Despite expectations that rental prices had peaked, they've continued soaring to record-breaking highs . Last month's news of stagnant interest rates prompted some prospective buyers to pivot , flooding an already saturated market with additional renters. However, despite the uptick in rates, Greg Heym, Chief Economist at Brown Harris Stevens, notes that while mortgage rates have risen, they remain nearly 1 percent lower than the average rate  over the past 50 years. This bri