July 22, 2020
A recent second quarter report from Douglas Elliman for Manhattan real estate sounds ominous: sale prices were down 17.7% year over year. However, upon a closer look, New York city real estate isn't a market with plunging prices or inherent weakness like the recession in 2008.
July 20, 2020
Residential real estate made a huge comeback in May, with pending home sales jumping by 44.3% month-over-month. That is the highest month to month gain in pending sales that the National Association of Realtors has ever tracked, and it is a strong indication that the residential real estate market is robust heading into the summer season.
July 15, 2020
Mortgage rates are now at record lows nationally, with 30-year fixed mortgage rates now just over 3%. These incredibly low rates are driving homebuyer demand for real estate higher, even in the midst of the pandemic.