The Manhattan Inventory Report for 6/25/2013

The Manhattan Inventory Report for 6/25/2013

 State of the Market

The Manhattan Inventory Report for 6/25/2013  Is the Bottom in? The number of active listings increased again yesterday, but in spite of that new contracts continued soaring (the last changes you see on the chart is data put into the system since midnight.). Listings increased by 10 units, up by 67 units from last weeks low. The timing of this bounce in inventory came as interest rates popped again on Bernanke speech. It seems the spectre of even higher rates has brought out sellers. Interestingly, note on the chart that pending sale popped pretty good too, which makes the increase in inventory all the more impressive. We've been talking about this for a while now. The fact that interest rates may likely be putting in a generational low. This is a great time to list your property as there still is a very small amount of listings competing, and sales are going through as people rush to beat the interest rate rise.

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The Manhattan Inventory Report for 6/25/2013

 All Data Courtesy of Urban Digs