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

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

for people living in New-York. 2018 the worst year for the business since the last recession. 2018 not warmly for property in the New York metropolitan area. the 5 boroughs area.

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

This 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 months. This absolutely unusual for New York estate market in this period of time.

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

Sells are hard to nowadays resultant tough situation. That force, to cut the price to find potential . Otherwise the properties sitting on the market, for undetermined time.

Nevertheless, this big hit of this slowdown market affects Manhattan more than everywhere in New-York. The in the west midtown Manhattan. Real estate sales in this area are down -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 11 percent from the third quarter of 2017 to the third quarter of 2018.” to CNBC news. Resales of existing declined dramatically during that unprecedented period as . The last time we saw something like similar. That was actually in 2011, during the recession crisis recovery process.

Many factors are in the basket that makes the New York real estate market is cold now. But further analysis makes the New York real estate market slow down will be subject of another week.

For the time being, if are looking for personal home it good time for to . If are a I do not know to tell . Depend on situation you should pay a to market reaction, do not sell impromptu alarming yourself.

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