BrokerageIndustry News

Time to relist?

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: This article is reposted with permission by The Real Deal. Click here to view the original article. By CANDACE TAYLOR NEW YORK -- Positive signs in the market are attracting the attention of the many New Yorkers who wanted to sell their apartments but took them off the market last year in the midst of the recession. With the market now showing signs of improvement, many of these homeowners are considering relisting their homes. "Sellers feel the market is stronger than it was last year," said Kyle Blackmon, a vice president at Brown Harris Stevens. Their decisions could have far-reaching consequences for the Manhattan market in the coming months. Inventory has declined for the past few quarters (see "The inventory squeeze"), which has helped to create urgency in the market and prevent further price drops. But a large number of units reentering the market at once could reverse some of that progress. In deci...