New-York: 2018  the poorest year for real estate property sellers since 2009! Why the New- real estate market local cooled down so during 2018 in the Big Apple?

2018 good year for the American economy, the repeating by the media every . The resonance becomes an echo that everybody repeats when are talking about .

for real estate sellers people in New-. 2018 the worst year for the since the last recession. 2018 definitely not warmly for property sellers in the New metropolitan area. Including the 5 boroughs and surrounding area.

Indeed CNBC reported in October that the New-York real estate market had cooled down so drastic. That the data are comparable the levels seen since 2009 after the last recession. Frankly, situation is unprecedented.

cooldown is somehow atypical. Because we observe is homes prices go up for . At the same time, their stay up for much longer than 6 9 . absolutely unusual for New York real estate market in period of time.

According to another data providing from Yanex , LLC. The data matrix shows New-York real estate market homes priced. At $1 or more stay the market for about 120 . Those priced between $8 and $12 , the market. Indeed, stay the market longer, often taking 200 before being bought.

Sells are to close nowadays resultant tough situation. That force, sellers to cut down the price to find potential offers. the properties with sitting the market, for an undetermined time.

Nevertheless, this big hit of this slowdown market affects Manhattan more than everywhere in New-York. The in the west side midtown Manhattan. Real estate sales in this area are down double-digits. The cycle is continuing to decline further down for four consecutive quarters.

Outside of Manhattan inside the other 4 boroughs real estate sales “fell by 11 percent from the quarter of 2017 to the quarter of 2018.” According to CNBC news. Resales of existing declined dramatically during that unprecedented period . The last time we saw similar. That actually in 2011, during the recession crisis recovery .

factors are in the basket that the New York real estate market is cold now. But further about the New York real estate market slow down will be of another article .

For the time being, if you are it a good time for you to buy. If you are a I do not know to tell you. Depend on your situation you should pay a close attention to market reaction, do not sell impromptu by alarming yourself.

At the same time interrogate your , to do not hold indeterminately because anything can happen the price can drop down more. The economy is not so strong as people may think, the is too high. correction be done to the inflation if not we can prepare for another recession soon.