It’s a modern-day maxim that anyone in New York City’s real estate game would be foolish not to heed: Data drives deals. Without an abundance of research, the industry’s movers and shakers are vulnerable in an ever more cutthroat marketplace.
New York City’s housing market entered Year Two of a correction in 2018 — a year that saw heavy discounts and increased competition among brokers anxious to get deals done.
For the last year or so, the industry has experienced a gradual slowdown in New York’s residential sales market. But on the development side, residential construction still dominated the headlines and skyline in 2018, albeit at a smaller scale than in earlier years this cycle.