What Will The Summer Real Estate Market Look Like In NYC This Year?

May 21, 2020
Published in 6sqft
It will start getting back to business as usual And then there are those who were supposed to move in March, April, or May (the spring is typically the busiest time for real estate in NYC) but either couldn’t or were too nervous. This has resulted in a lot of people just waiting to pull the trigger. Eric Benaim, CEO of Modern Spaces, notes that his own firm has done a couple of thousand virtual tours during this time. “There is so much pent-up demand to buy and spend that I feel like the market will balance out… Mortgage rates are at an all-time low and a huge supply of resale listings will likely begin hitting the market as buyers who have been holding out during the pandemic decide to move forward with selling.”
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