The Typical Summer Slow Down In The Manhattan Real Estate Market Is Here, Wall Street Is Mixed As Its Big Rally Cools Some More, NYC Vendors Say Real Estate Developers Are Pushing Them Out followed by

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The Typical Summer Slow Down In The Manhattan Real Estate Market Is Here

There were notably lower signed contracts July vs June. Both months were also down against their 10 year historical averages (817 signed contracts in July vs the 908 ten year average). Higher interest rates this year compared to last play a major role, as does a lack of inventory. Expect an influx of new listings hitting the market in mid/late September.

Wall Street Is Mixed As Its Big Rally Cools Some More

Stocks are mixed Thursday as Wall Street’s red-hot rally for the year cools a bit more.

The S&P 500 was 0.2% lower in midday trading and on pace for a third straight loss after hitting a 16-month high. The Dow Jones Industrial Average was down 40 points, or 0.1%, at 35,242, as of 11:30 a.m. Eastern time, and the Nasdaq composite was 0.1% higher.

(Full Report)

NYC Vendors Say Real Estate Developers Are Pushing Them Out

Members of the Street Vendor Project (SVP) and its supporters gathered at Bella Abzug Park in Hudson Yards, Manhattan, last month for a rally in support of the area’s longtime street vendors. Chants of “shame on you” targeted the real estate developers The Related Companies. (Full Story)

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3 Reasons to Buy

Everyone keeps asking me: when are prices coming down in Manhattan, Brooklyn, and Queens? There are (at minimum) 3 reasons to buy - even in this market. In this weeks' video I explain why.

Reach out to learn 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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