The New York City residential real estate market had been slowly weakening since its peak in 2014 – 2015. The downward trend increased dramatically following the tax reform bill, which went into effect in January. The slowdown hit high-end properties first, followed by the middlemarket and then the lower end of the market. The current prices are lower than in the peak of 2014-2015; in some cases, prices are down by as much as 20-25%.
Also in this issue:
- Current Market Review
- Advice for Buyers and Sellers
- Driving Trends
- Data-Based Snapshot
- New Submarket Series
