Whether you are considering purchasing your first home or want to acquire a rental property, there has never been a better time to do it. Check out the following reasons why you shouldn’t put off your decision to invest in any New York City condos.
Prices That Remain Stable
Real estate prices in the market have finally reached a point of stability. Prices have risen by as much as 4% every month on average over the previous year or so. One of the most advantageous aspects of steady prices is that it allows prospective buyers to spend time browsing for real estate.
There is no pressing need to act quickly because of the threat of a price increase that will push items just out of reach. Just bear in mind that these stable prices are unlikely to remain as long as one would like, so now is the best time to take advantage of them.
Sales Have Slowed as a Result
In addition to the fact that prices have now stabilized, we have noticed at 35 Hudson Yards that the market has also begun to slow. The number of New York City condos sold in the real estate market has decreased dramatically compared to the same period last year in most areas.
It is reasonable to assume that a decrease in the number of homes and condos sold is due to affordability issues, questions about whether prices will continue to rise, and other fair factors. Because fewer individuals want to acquire real estate at the moment, real estate sellers will have to get a little more creative to get people interested in their homes.