Record Number of Cash Offers in NYC, Stock Rally Stalls After Jobs Report, Fed's Powell Still Expects Rate Cuts, But Inflation Progress "Not Assured"

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Record Number of Cash Offers in NYC

More than two-thirds of home sales in Manhattan last quarter were cash purchases, a record, as high rates on mortgages deter all but the richest buyers. As mortgage rates hover around 6 percent, nearly 70% of Manhattan homes purchased in the final quarter of 2023 were bought without a mortgage.

(Full Story)

Stock Rally Stalls After Jobs Report

Stocks ended the week with a thud, closing down on Friday, as investors pulled back after February's job report and market powerhouse Nvidia (NVDA) had a rare off-day. The US economy added 275,000 jobs in February, once again zooming past Wall Street expectations, but the unemployment rate ticked up to 3.9%, its first increase in four months. (Full Story)

Fed's Powell Still Expects Rate Cuts, But Inflation Progress "Not Assured"

U.S. Federal Reserve Chair Jerome Powell, avoiding disputes over fiscal policy, energy, housing, Ukraine, and other tangled issues, told U.S. lawmakers on Wednesday he and his colleagues would “keep our heads down” in a charged presidential election year, with interest rate cuts still likely in coming months but only if warranted by further evidence of falling inflation. (Read More)

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24 Hours in NYC

When we aren't busy being the best real estate team in New York City, we like to take advantage of all of the incredible things this city has to offer. From Souk Yoga with Maria, Dinner with Noble at The Smith NoMad, g

etting cakes at Lady M Nomad,

Movie Night at the Bushwick Loft: Priscilla,

to Planning Mom’s 75th Birthday party and

Jelly’s Last Jam at the New York City Center... we had a jam packed weekend full of fun, family, and new adventures.

Follow along by following along.

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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.

Record Number of Cash Offers in NYC, Stock Rally Stalls After Jobs Report, Fed's Powell Still Expects Rate Cuts, But Inflation Progress "Not Assured"

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Featured Blogs

Brooklyn Luxury Report, Tumbling Tech Stocks Drag Wall Street , Do You Call It a Basement or Cellar? In NYC,…

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