StreetEasy's 2017 New York Housing Market Predictions

January 9, 2017 | by Streeteasy Team
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Every year, StreetEasy predicts trends that will be driving the New York City real estate market in the coming year. A year ago, we predicted that 2016 would be the year of the luxury market slowdown and slower price growth across the board, fierce competition in Upper Manhattan and a greater rent burden for Brooklynites. Heading into the New Year, we dusted off our crystal ball – that is, our extensive market data – to forecast some of the leading trends that will shape the city’s sales and rental markets in 2017. Manhattan Sales Market Will Have Slowest Growth of All Boroughs Where high demand and high-priced inventory kept Manhattan resale prices soaring over the past few years, luxury is now what’s dragging the marke... Read More

NYC Real Estate Experts Offer Their 2017 Predictions

January 9, 2017 | by Emily Nonko
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CityRealty spoke with New York City real estate experts—everyone from developers to architects to contractors to brokers—on their predictions for the upcoming year in the city’s ever-changing real estate market. From the presidential election of real estate magnate Donald Trump to the likely return of 421A tax incentives, 2017 promises big changes ahead. And yes, renters can look forward to more apartment concessions from landlords coming next year. President Donald Trump will have big effects on NYC real estate Stephen DeNardo, CEO of RiverOak Investment Corp. The day after the election, Crain’s New York Business ran the headline: “President-elect Trump unlikely to hurt real estate industry that made him.” Th... Read More

How will a Trump presidency affect NYC real estate?

November 21, 2016 | by Lucy Cohen Blatter
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Donald Trump's name might be synonymous with real estate here in New York, but the president-elect said very little about his housing plans during the election. (Hillary Clinton stayed away from the subject almost entirely, too.) That said, of course, people are already speculating how Trump's presidency, and his very election, will affect the NYC housing market. Jonathan Miller, appraiser and real estate market analyst, seemed to think that there will be a pause in movement, but just for a bit. "With any significant unexpected and historic event, the initial impact to housing can be seen in the form of a 'pause' until buyers have enough time to process it.... A 'pause' can be measured in days or months and market reaction... Read More

Election anxiety, "softening" markets," L train freakouts, and more: What to expect in NYC real estate this fall

September 12, 2016 | by Virginia K. Smith
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As the city wakes from its summertime languor and the real estate market climbs out of its customary August slump, it's a perfect time to look at what's in store for the rest of the year. And with recent reports of softening in the sales and rental markets, as well as 421a confusion, L train shutdown mania, and uncertainty over the election, suffice it to say the next few months are likely to be anything but boring. Below, what NYC buyers, sellers, and renters can expect as the weather cools: Is there really wiggle room in the sales market, or is it just for the ultra-rich? Over the last several months, there's been a much-discussed "softening"—broker code for slowdown—in sales for the headline-grabbing, multi-million-dollar condos at the very top of t... Read More

What an Election Year Means for House Prices

June 20, 2016 | by Greenfield Advisors
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This year will bring a whirlwind of new political excitement, but also uneasiness. Presidential election years have many effects on our society. One effect that has been historically popping up during election years is the real estate market's response. However, since the headlines are saturated witht eh latest poll numbers and candidates' remarks, house prices are simply not at the forefront of everyone's minds during an election year. In this post, I will delve into the effects that these pivotal years have on home prices and what homebuyers and sellers can expect in 2016. How is Real Estate Affected by a Presidential Election? Data from Elections have historically affected hous... Read More