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

a good for the American economy, the repeating by the every day. The resonance becomes echo everybody repeats there talking about everything.

However for sellers people in -York. is the worst for the business since the last recession.  is definitely warmly for property sellers in the metropolitan area. Including the 5 boroughs area.

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

cooldown is somehow atypical. Because what we observe is homes prices continue go up for sale. At the same , their stay up for sale much longer than 6 9 months. absolutely unusual for real estate in period .

According another data source providing Yanex Real Estate , . The data matrix shows New-York real estate market homes priced. At $1 or more stay on the market for about 120 days. Those priced between $8 $12 , on the market. Indeed, stay on the market even longer, often taking as as 200 days before being .

Sells hard to close nowadays resultant a tough situation. That force, sellers to cut down the to find potential . the properties sitting on the market, for undetermined .

Nevertheless, this big hit this slowdown market affects Manhattan more than everywhere in New-York. The developers 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 Manhattan inside the other 4 boroughs real estate sales “fell by 11 the third quarter of 2017 to the third quarter of 2018.” According to CNBC Financial news. Resales of existing declined during that unprecedented period as well. The last time we saw something like similar. That was actually in 2011, during the recession crisis recovery process.

are in the basket that makes the real estate market is cold now. further analysis about what makes the New York real estate market slow down be of another article next week.

For the time being, if you are for a home it a good time for you to buy. If you are a seller I do know what to tell you. Depend on your situation you should a close to market , do sell impromptu by alarming .

At the interrogate your numbers, to do not indeterminately because anything can happen the can drop down more. The economy is not so strong as think, the debt is too . Some correction be done to stop the inflation if not we can prepare for another recession soon.