Following up on our last Blog – What to Expect In 2020 – the real estate market is showing signs of stability in the resale market.
What is a Market Pulse?
The market pulse is the ratio of pending sales (in contract) to supply (active sales) ratio.
The Current Market Pulse is Trending Up!
The Market Pulse is showing signs of trending up toward a more balanced market. As shown by the charts for Existing Resale to New Development, the upward trend is in the Resale Market. New Development is not showing signs of turning toward a more balanced market and therefore is still solidly in a buyers market.
If you are considering transacting, discussing what these charts mean for you is a great idea.
MARKET WIDE
(Source: https://www.urbandigs.com/marketwide-charts/market-pulse/)
EXISTING RESALE
(Source: https://www.urbandigs.com/marketwide-charts/market-pulse/)
NEW DEVELOPMENT
(Source: https://www.urbandigs.com/marketwide-charts/market-pulse/)
As always, if you have any questions about New York City real estate, contact us anytime!
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