The Manhattan Inventory Report for 6/21/2013

The Manhattan Inventory Report for 6/21/2013

 State of the Market

The Manhattan Inventory Report for 6/19/2013  Respite!!! The number of active listings decreased yesterday, but only by 7 units. Active listings decreased to 4578 properties. The low of 4491 active listings, posted on 12/31/2012 is still easily within reach. How low will available inventory fall if that low is breached? Any ones guess as it will be uncharted territory..However, with Thursdays FED announcement and the pop in mortgage rates to 4.5% on the 30 Year Fixed, I would expect some sellers to come out of hiding. This may be the impetus for the inventory issue getting resolved..... Hopefully in a gradual way though.  Today's chart shows 2 years of data for perspective on last Decembers low.

The Manhattan Inventory Report for 6/21/2013

 All Data Courtesy of Urban Digs