{"id":457283,"date":"2022-06-03T20:56:31","date_gmt":"2022-06-03T17:56:31","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/may-sees-a-slowdown-in-nyc-home-sales-report\/"},"modified":"2022-06-03T20:56:31","modified_gmt":"2022-06-03T17:56:31","slug":"may-sees-a-slowdown-in-nyc-home-sales-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/may-sees-a-slowdown-in-nyc-home-sales-report\/","title":{"rendered":"#May sees a slowdown in NYC home sales: report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27d4ed1fab5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27d4ed1fab5\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/may-sees-a-slowdown-in-nyc-home-sales-report\/#%E2%80%9CMay_sees_a_slowdown_in_NYC_home_sales_report%E2%80%9D\" >&#8220;May sees a slowdown in NYC home sales: report&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CMay_sees_a_slowdown_in_NYC_home_sales_report%E2%80%9D\"><\/span>&#8220;May sees a slowdown in NYC home sales: report&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Spring in New York typically brings a busy homebuying season \u2014 but in May 2022, it doesn\u2019t seem like many locals had that usual spring in their step.<\/p>\n<p>The latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.elliman.com\/resources\/siteresources\/commonresources\/static%20pages\/images\/corporate-resources\/q2_2022\/newyork-nsc-05_2022.pdf\">report from Douglas Elliman shows<\/a> that, due to a lack in inventory and rising mortgage rates, activity in Manhattan and Brooklyn slowed down. (The report spans wide, including data from Long Island, Westchester and parts of Connecticut \u2014 but doesn\u2019t include tallies from the city\u2019s three other boroughs.)<\/p>\n<p>In Manhattan, the number of newly signed contracts for co-ops slipped by 6.9% year-over-year to 671 inked deals in May from 721 in May 2021. Condos, meanwhile, only made a modest 2% gain in the same time span, rising to 556 contracts from 545 the year prior. As for one- to three-family homes \u2014 including single-family townhouses \u2014 May 2022 saw a total of 27, or 10 more than last May.<\/p>\n<p>Across all three of these property types, deals fell year-over-year to 1,254 from 1,283.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/apartments-iStock-1299685855.jpg?w=1024\" alt=\"The Elliman report analyzes signed contracts and listings in Manhattan and Brooklyn.\" class=\"wp-image-22524671\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/apartments-iStock-1299685855.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/apartments-iStock-1299685855.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/apartments-iStock-1299685855.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Elliman report analyzes signed contracts and listings in Manhattan and Brooklyn.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/apartments-iStock-1152028422.jpg?w=1024\" alt=\"A StreetEasy report in April said inventory was higher.\" class=\"wp-image-22524687\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/apartments-iStock-1152028422.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/apartments-iStock-1152028422.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/apartments-iStock-1152028422.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>A StreetEasy report in April said inventory was higher.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>In April, according to a market report from the listings portal StreetEasy that uses different metrics, home sales moved fast. That month, the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>n city home spent 46 days listed for sale, 20 days fewer than in April 2021. That also came with increased prices. In April, the median asking price for a home in the city rose to $995,000 \u2014 a nearly 5% year-over-year climb. And in Manhattan alone, a total of 1,525 units entered contract that month, a number that hadn\u2019t been seen since May 2013. At that time, StreetEasy noted, there was good inventory \u2014 a total of 19,000 homes for sale in the city, just shy of the 2019 high of 20,735 when the market was slow.<\/p>\n<p>In May, according to Elliman, there were 953 new listings for all three of these housing types, up less than 1% year-over-year from 948 last May.<\/p>\n<p>Across the East River, signed contracts for Brooklyn single-family homes, condos and co-ops fell annually for the first time in three months \u2014 though new listings posted a slight 1.7% increase to 241 from 237 year-over-year.<\/p>\n<p>Contracts for co-ops in the borough of Kings fell 6.3% to 177 from 189, while for condos they slipped 6% annually to 299 from 318. Even bigger, the decline in contracts signed for one- to three-family residences: a 13.2% drop to 165 from 190.<\/p>\n<p>\u201cThe narrative of \u2018low supply is retraining sales\u2019 is now combined with \u2018the spike in rates is also creating a drag on demand,\u2019 the report\u2019s author, <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>raiser Jonathan Miller of Miller Samuel <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.crainsnewyork.com\/residential-real-estate\/home-sales-fall-manhattan-brooklyn\">told Crain\u2019s<\/a>. \u201cIt accelerates the affordability challenge that low supply has created.\u201d\n                        <\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/03\/may-sees-a-slowdown-in-nyc-home-sales-report\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;May sees a slowdown in NYC home sales: report&#8221; Spring in New York typically brings a busy homebuying season \u2014 but in May 2022, it doesn\u2019t seem like many locals had that usual spring in their step. The latest report from Douglas Elliman shows that, due to a lack in inventory and rising mortgage rates,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":457284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/apartments-iStock-690233432.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[129880,4950,77578,4952,77579],"class_list":["post-457283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-6-3-22","tag-brooklyn","tag-home-sales","tag-manhattan","tag-residential-real-estate"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/457283","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=457283"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/457283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/457284"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=457283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=457283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=457283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}