Chart of the Day – Pending Sales NYC
This chart is not good…..Note the trend action in March / April of the previous few years 2013, 2014, 2015 (2010 & 2011 also but not shown on the chart)…. All healthy years for price appreciation in the NYC real estate market. Pretty much straight up in all three years. Today’s action is deplorable. Nothing is trading as 4/8’s reading of 2,660 units in contract is the lowest # at any time since March of 2012. Demand has fallen off a cliff at the current price point. If you are a seller you need to look at this chart.
Note: Originally Posted 4/8/2016 on previous website.
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