The real estate market in NYC saw about 15% more transactions in December 2023 than a year ago in December 2022. Is it a telltale sign that the real estate prices will recover in 2024? Prices haven’t moved but more buyers have come off the sidelines and jumped into the market to start the search. ⁠

Rates came down from their highs.  Wall Street debated how soon and how much the Fed would cut rates next year. 

Compared to last May, before rates started to rise (does anyone still remember those days?!) prices were now down about 11%.  Transaction volumes were down 40%.  Inventory was up almost 60%.