2017 The Year in Real Estate

2016 was a wild ride, to put it gently. And let’s rip this Band-Aid now: 2017 isn’t shaping up to be much calmer.

Amid massive geopolitical shifts at home and abroad, New York’s real estate market has also been somewhat more volatile than usual. After years of non-stop price hikes, the last year finally saw a slowdown (code word: “softening”) at the top of the luxury sales and rental markets, while everyone in more down-to-earth price brackets continued to battle it out for reasonably priced housing options that are few and far between.

click on the link to read the full artile:

http://www.brickunderground.com/buy/2017-real-estate-forecast
A few points from the article:

High end market will be softer but if priced appropriately apartments will sell.
Prices should stay put or edge up slightly.
Resale market should fair better than new construction.
Rates will slowly rise.
Rents should stay the same but concessions will be up.
The closing of the L train may slow down rising prices in parts of Brooklyn.
Trump victory brings uncertainty.
We may see new 421-A abatements.
Lots of rezoning.
Look to Queens and the Bronx

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Lets make it a great year!!!

Filed under: Headlines by Wendy Jackson
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