Vic Parise is wondering what everyone thinks about the NYC housing market?Does someone think it will?

Vic Parise
Agent
10022

decline at all? If so how much, how long, nothing is forever...

Answers (1)
Glenn Minnick,...
Agent
New York, NY
FIRST ANSWER

There have been modest declines in some areas of the market, especially in cooperatives where there is a lot of inventory. However, condominiums continue to increase in price due to all of the foreign buyers now. With the weak U.S Dollar, Europeans are snapping up condos which is helping to keep the overall average prices up. I handle soley high-end condominiums and we're seeing foreign buyers by the "boatload" now...thank goodness as they are doing wonders for the NYC economy. Our office is having a record year again for sales...we've already surpassed 2007 numbers as of the middle of August.

Thu Aug 28 2008, 13:16

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