New-York: 2018  is poorest year for real property since 200! Why New-York real market local cooled down so during 2018 in Big Apple?

2018 is a good year for the economy, is the keyword repeating by the every . The resonance becomes everybody repeats there talking everything.

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

Indeed CNBC reported in October the New-York real market had cooled down so drastic. the comparable to the levels seen since 200 after the last economic recession. Frankly, this is unprecedented.

This cooldown is somehow atypical. Because what we observe is homes prices continue to go up for sale. At the , their stay up for sale much longer than 6 to months. This absolutely unusual for New York real estate market in this period of time.

According to another from Yanex Real Estate Investing, . The matrix New-York real estate market homes priced. At $1 million more stay on the market for 120 days. Those priced between $8 million $12 million, on the market. Indeed, stay on the market even longer, often 200 days before being bought.

Sells hard to nowadays resultant a tough . force, sellers to cut down the price to find offers. 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 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 “fell by 11 percent from the third quarter of 2017 to the third quarter of 2018.” According to CNBC Financial . Resales of existing apartments declined dramatically during that unprecedented period well. 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 analysis what the New York real estate market slow down will be subject of another next .

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

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

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