REBNY: NYC broker confidence declining amid national, foreign instability

REBNY says commercial and residential broker assurance in “slow decline” through the second quarter
  • REBNY's second quarter Broker Confidence Index fell 0.19 points from the first quarter to reach 7.04.
  • The residential broker confidence index dropped to 7.23 from 7.92 last quarter, with mixed concerns over housing supply.
  • The drop was largely driven by commercial brokers, whose individual index slumped to 6.57, with expectations for the market in the next six months at 5.71.

Broker confidence in New York City peaked in the fourth quarter of 2014 and has been consistently trending down on a quarterly basis, according to the Real Estate Board of New York (REBNY).