Confidence of NYC’s brokers soars: survey

REBNY survey finds brokers bolder this year

New York /
May.May 03, 2014 10:00 AM

 New York City residential brokers are feeling bolder than ever, according to a new survey.

Thanks to an improving economy and a spike in residential sales, brokers are more confident this year than they were last year, according to a survey by the Real Estate Board of New York cited by Capital New York.

REBNY’s Real Estate Broker Confidence Index climbed to 9.21 for the first three months of the year from 9 in the last quarter of 2013. During the third quarter of 2013 the index was at 8.75.

“Our brokers—both residential and commercial—continue to express strong confidence in New York City’s real estate market,” Steven Spinola, REBNY’s president, said in a statement.

However, brokers responding to the survey did expressed concern over interest rates and weakening demand.

“Last year, we didn’t have the supply, and this year there is not as much demand as rental prices have exceeded what people are willing to pay,” one anonymous broker said. [Capital New York]Christopher Cameron 


Related Articles

arrow_forward_ios
John Banks

High expectations: A look at John Banks’ 4 years at REBNY

High expectations: A look at John Banks’ 4 years at REBNY
John Banks

John Banks to step down as REBNY president

John Banks to step down as REBNY president
REBNY Awards

Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi

Newmark Knight Frank wins REBNY retail award for Alamo Drafthouse deal in FiDi
Oprah Winfrey and (inset) Lawrence Stroll over the unit (Getty)

You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse

You get a condo! Billionaire Lawrence Stroll sells Oprah’s former Fisher Island penthouse
Residential construction accounted for 44% of spending in October. (iStock)

Housing drives rise in construction spending October

Housing drives rise in construction spending October
1616 President Street in Crown Heights (Google Maps; iStock)

Crown Heights renters protest New York’s “worst landlord”

Crown Heights renters protest New York’s “worst landlord”
48 Willow Place and 568 First Street in Brooklyn (Google Maps, Unsplash)

Brooklyn sees $49M in luxury contracts signed during holiday week

Brooklyn sees $49M in luxury contracts signed during holiday week
Second monthly decline in contract activity signals looming decline in U.S. home sales (iStock)

Pending home sales fall again as prices continue to rise

Pending home sales fall again as prices continue to rise
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...