In April, concerns about tariffs and a potential recession continued to weigh on buyers’ minds. Mortgage rates have remained relatively steady, hovering between the high 6s and low 7s since last November.

The New York City real estate market closed out 2024 on a high note, particularly in the luxury and new construction sectors, where demand is rising and supply is shrinking.

After a difficult March and April, where 6 contracts didn’t get signed back to back, May offered a much needed respite from that string of heartbreak.

February was a little busier than January, which was busier than all of 2023.  It felt that spring was in the air after a long winter for the New York real estate market.