Manhattan Q4 Luxury Report, Dow Closes More Than 100 Points Lower Friday, Ekes Out a Weekly Gain, Lesser-known Housing Bills to Watch Followed by

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Manhattan Q4 Luxury Report

An inventory shortage and higher-than-usual rates compared to the 5 year avg continued to drive trends in Manhattan's residential real estate market during Q4 of 2023. A 7.6% increase in contract activity this quarter highlights positive movement as we transition into 2024. Properties over $5M saw double-digit YOY growth of almost 30% for newly signed contacts. (Full Report)

Dow Closes More Than 100 Points Lower Friday, Ekes Out a Weekly Gain

The DJIA

slipped Friday as traders parsed through the first batch of Q4 earnings and digested the second in a pair of closely watched inflation reports this week.

The 30-stock Dow lost 118.04 points, or 0.31%. The S&P 500 ended the day 0.08%, and the tech-heavy Nasdaq Composite closed just above flat, gaining 0.02%. (Read More)

Lesser-known Housing Bills to Watch

One is the very easy-to-remember “Local Regulated Housing Restoration Adjustment,” sponsored by Sen. Leroy Comrie and Assembly member Kenny Burgos. Introduced last year, it is a big priority for the Community Housing Improvement Program, which initially framed the bill as a rent reset for vacant, rent-stabilized apartments.

(Read More)

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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 Q4 Luxury Report, Dow Closes More Than 100 Points Lower Friday, Ekes Out a Weekly Gain, Lesser-known Housing Bills to Watch

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