New York City Is Now a Buyer's Market, Says Miller Samuel CEO

The video discusses the current state of the real estate market, highlighting uncertainty due to economic factors and a potential recession. It examines trends in the market, including softness in both the resale and new development sectors, and analyzes price changes and inventory levels. The video also explores the uniform impact across different neighborhoods and market segments, with a focus on the challenges faced by the high-end market. Future predictions suggest a continued struggle with excess inventory, particularly in luxury developments.

What is causing confusion among buyers and sellers in the current market?

• Rising employment rates

• Falling interest rates and a booming stock market

• Stable economic conditions

• Increasing housing prices

What has been the trend in Manhattan's real estate market over the last couple of years?

• A rise in median sales prices

• An increase in new development sales

• A decrease in listing inventory

• A decline in both median and average sales prices

How has the new development market affected the overall real estate market?

• It has led to a decrease in resale inventory

• It has caused an oversupply and increased competition among sellers

• It has stabilized the market

• It has reduced the number of unsold units

What is the current state of the high-end real estate market?

• It has been soft and declining over time

• It has been booming for the past few years

• It has remained stable

• It has seen a significant increase in sales

What is the prediction for new development units by the end of 2020?

• A sharp increase in new units

• A stabilization of new units

• A sharp decline in new units

• No change in the number of new units