New-York: 2018  is poorest for estate property sellers since 200! Why New-York estate market cooled so during 2018 in Big Apple?

2018 is a good for the , is the repeating the media . The resonance becomes an echo that everybody repeats are talking about .

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

Indeed CNBC reported in October that the New-York estate market had cooled so drastic. That the data are comparable the levels seen since 200 after the last economic recession. , is unprecedented.

cooldown is somehow atypical. Because what we observe is homes prices continue go up for sale. time, their up for sale longer than 6 . absolutely unusual for New York market in period of time.

to data source providing from Yanex Investing, . The data matrix shows New-York market homes priced. At $1 million or more on the market for about 120 days. Those priced between $8 million $12 million, on the market. Indeed, on the market even longer, often taking as as 200 days before being .

Sells are hard to nowadays resultant a tough . That force, sellers to cut the to find . Otherwise the properties with sitting on the market, for an undetermined time.

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

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

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

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