{11.2025} A Quiet December… and the Loud Signals Pointing to Recovery
Hope everyone enjoyed a restorative long weekend filled with great food and even better company!
As we move into the holiday season, the NYC real estate market has officially hit its year-end slowdown. Activity is quieter across the board—except for the deals racing to close before December 31st. But is 2025 shaping up to be an inflection year? The data suggests yes. Every submarket is showing lower inventory, higher closed volume, and modest price appreciation. The year-over-year momentum in new development and the luxury segment—two categories that typically lead the broader market—is especially striking.
So what might 2026 bring? Will we finally see a full price recovery? The rental market, with its record-breaking highs, clearly demonstrates strong underlying demand for NYC housing. Yet the broader sales market still needs two things: further stabilization of mortgage rates and pro-business policies that retain employers rather than push them away. As work-from-home trends gradually tilt back toward in-office routines, we’re cautiously optimistic that NYC real estate is on a path toward steady improvement.
Personal Note
We enthusiastically welcomed our first snowfall of the season over the Thanksgiving weekend in our house upstate. We huddled with friends over good food and a crackling fire. There were heated debates that I wished didn’t happen (over politics!). But mostly I came away with a warm togetherness that left me mentally relaxed. I am looking forward to the skiing season!
