Manhattan Home Buyers Seem To Have Adjusted To The Uncertainties In The Banking Industry and Financial Markets, Stocks Rise As Banking Fears Ease While Dollar Falls, Oil Rallies, Distress In New York City Real Estate: The Silver Lining followed by

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Manhattan Home Buyers Seem To Have Adjusted To The Uncertainties In The Banking Industry and Financial Markets

Last week, pending sales were up 6% over the previous week. We're also seeing more listings come on the market, which buyers have been clamoring for.

Lower interest rates (we just saw a 30 year fixed rate jumbo loan for 5%) are getting more buyers back out there.

Stocks Rise As Banking Fears Ease While Dollar Falls, Oil Rallies

Stock indexes rose and the dollar declined on Thursday on easing fears about banking sector troubles, encouraging economic signs from the chip industry and rising oil prices.

Two-year Treasury yields rose to a one-week high as investors grew more confident that recent stress in the banking sector would be contained. (Full Story)

Distress In New York City Real Estate: The Silver Lining

Although the Federal Reserve voted to raise rates another .25% at its second meeting of the year, there was a silver lining in the announcement.

In his opening statement, Fed Chair Jerome Powell indicated significant rate hikes may not be needed going forward, which will bring much needed relief and stability to the commercial real estate market.

(Read More)

Team News

Market Update

With everything that is going on, I wanted to give you an update on the real estate market in NYC and how the team is doing. Luckily, things are looking better and better everyday. Interest rates are manageable, sales are up, and panic is down.

It's going to be a great Spring!

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Martin Eiden Team

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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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Manhattan Home Buyers Seem To Have Adjusted To The Uncertainties In The Banking Industry and Financial Markets, Stocks Rise As Banking Fears Ease While Dollar Falls, Oil Ral...

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