Predictions are that the NYC real estate market will continue to climb despite earlier predictions of a softening in the market. Buyers and sellers should be aware of these trends and consult with a high quality real estate broker to provide assistance in understanding the changing market.
The anticipated rise is part of what is expected to be a flight to quality assets of which investments in the United States are thought of in the best regard. The global economy is partly in shambles as a result of the Brexit vote results which caused significant shifts in the European economic picture. The vote knocked down the pound and the US dollar rose. Further uncertainty in both the European Union and Britain will likely lead to further adjustments and uncertainty in coming months.
Emerging markets have also been experiencing tailwinds. China is experiencing the lowest growth that it has had in decades and their inflation, as well as new market regulations is leading many internationals investors to run from these markets. Brazil is experiencing lingering problems from the Zika virus and the Middle east and other countries such as Russia and Venezuela are experiencing challenges related to the collapse of oil prices.
That leaves the US market as the most stable in the world but equities have risen to all time highs and the Federal Reserve has already lowered interest rates to close to the bottom disadvantaging interest rates. That leaves the real estate market as the most attractive remaining option and NYC real estate seems like the best option for many investors.
NYC is experiencing positive demographic trends with a rising population and job growth. Low interest rates also make real estate attractive for purchase. High prices put a burden on buyers and finding a gem in the market can be difficult without the right real estate agent. That’s where a high quality real estate agent like Town Residential Real Estate can come in.
Town Residential was founded in New York City and has an local specialty. Their professionals live and breathe the local market and the firm is run by specialists who write articles on and even publish newsletters on the local market. Their expertise can help buyers locate high quality real estate at attractive prices before they elevate further.