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Market by Martin |
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New and Noteworthy |
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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. |
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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) |
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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. |
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Team News |
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Market Update |
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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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Our Properties |
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We are partnering with Block: a home renovation platform that helps you design, plan, and build all in one place. If you are planning a home reno, use Block to get an on-site estimate of costs before you even start. Plus use offer code APKSTEPTXU to get $500 off your materials purchase. Click here for more info. |
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