In April, concerns about tariffs and a potential recession continued to weigh on buyers’ minds. Mortgage rates have remained relatively steady, hovering between the high 6s and low 7s since last November.
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The New York City real estate market closed out 2024 on a high note, particularly in the luxury and new construction sectors, where demand is rising and supply is shrinking.
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After a difficult March and April, where 6 contracts didn’t get signed back to back, May offered a much needed respite from that string of heartbreak.
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February was a little busier than January, which was busier than all of 2023. It felt that spring was in the air after a long winter for the New York real estate market.
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