Will Bill de Blasio kill New York real estate?

Sales of condominiums and co-ops in the borough were up 30 percent in the third quarter year over year, according to Douglas Elliman Real Estate. That was during the heat of the mayoral campaign.

Sales are now at the highest level since the last peak, in 2007, and the second highest in 20 years. Days on the market are down nearly 54 percent, showing big demand for little inventory.

(Read more: Goldman, SAC among de Blasio’s Wall Street backers)

“If people are leaving the city in droves, it must be the next shift,” said Jonathan Miller CEO of Miller Samuels. “If there was a panic, it wasn’t reflected in actual consumer behavior.”

Article source: http://www.cnbc.com/id/101176152

This entry was posted in Real Estate News and tagged . Bookmark the permalink.

Comments are closed.