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Brooklyn Market Insights Sept 2023, Wall Street Reacts to Jobs Report, McCarthy’s Ouster Raises Likelihood of a Government Shutdown

Martin Eiden | October 7, 2023

Your weekly market update has arrived. Brought to you by the Martin Eiden Team at Compass.  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏  ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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New and Noteworthy

Brooklyn Market Insights 

Sept 2023

Year over year, average sale prices in Brooklyn are up 14.3%, inventory is down 8%, and there was a 19.2% days on market increase. Do you have questions about the real estate market? I'm here to provide valuable insights into the market so you can stay educated and informed. Read more in Compass' September 2023 Brooklyn Market Snapshot, highlighting the prevailing trends shaping the market. 

(Read More)
Wall Street Reacts to Jobs Report 

The selloff in US stocks didn’t last long. 

Dip buyers sensing an overreaction to the blowout US jobs report have managed to drive the S&P 500 Index to a gain, reversing losses of as much as 0.9%. The S&P 500 fell within 20 points of its average price over the past 200 days, a level where  buyers tend to emerge. 

US economy adds 336,000 payrolls last month, unemployment 3.8%. (Full Story)
 
McCarthy’s Ouster Raises Likelihood of a Government Shutdown

A mid-November US government shutdown, already a serious risk, is increasingly likely following the toppling of Speaker Kevin McCarthy and worsening of an intra-party Republican conflict in the House. 

Temporary funding deal that he backed runs out in mid-November and the 

House can’t move forward on spending until a speaker is chosen.

 

(Full Story)

 

Team News

Ditmas Park 

🍦Ice Cream Social 🍦
Did you get the scoop? Last Sundae we gave our neighbors the scoop on NYC real estate while we scooped them their favorite ice cream. How sweet it was to meet our neighbors and have delicious conversations about the area, the future of real estate in NYC, and how much we love Sweet Lea's Gelato/Ice Cream all in one fell scoop.

 
 

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© Compass 2023 ¦ All Rights Reserved by Compass ¦ Made in NYC

Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. All Coming Soon listings in NYC are simultaneously syndicated to the REBNY RLS. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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