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Frenzied Market Cools in New York City
So far, in the first quarter of 2006 the national real estate market is
moving at a more comfortable pace. The market is regaining its balance
between buyers and sellers. The past couple of years have seen a market
frenzy where people would buy immediately thinking they had to beat other
buyers. Things have leveled off.
In recent years, high demand, low supply, and low interest rates drove the
frenzied market conditions seen in New York City. Interest rates have been slowly rising and have contributed to cooling off the New York City market. As long as the rates do not escalate too rapidly the market should remain
strong.
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