BrokerageMarkets & Economy

New York residential brokers lose confidence in market

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Are you set up for success in 2016? Join 2,500 real estate industry leaders Aug. 4-7, 2015, at Inman Connect in San Francisco. Get Connected with the people and ideas that will inspire you and take your business to new heights. Register today and save $100 with code Readers. Takeaways: Residential broker confidence is down slightly in New York City. The low inventory of two-bedroom apartments in New York City, coupled with interest rate uncertainty, has also affected brokers’ confidence in the market six months from now. Despite the reduction in confidence, brokers were positive about robust sales volume, the growing popularity of new neighborhoods and increased demand, especially in Brooklyn and Queens. Uncertainty over interest rates and a lack of inventory has made New York residential brokers less confident in the market. According to the Real Estate Board of New York’s latest Broker Confidence Index, residential broker confidence decreased to 8.21 during t...