NYC Real Estate Still a Buyer's Market, Brown Harris CEO Says

The video discusses the NYC real estate market's recovery post-COVID, highlighting a price correction and increased buyer activity. It covers the extended eviction moratorium, suburban housing trends, and the current state of Manhattan's market, emphasizing ample inventory and reasonable sellers. The video concludes with a discussion on loan stability, noting protections in place and a cautiously optimistic outlook.

What was one of the effects of the COVID-19 pandemic on the New York real estate market?

• An increase in eviction rates

• Increased demand for urban apartments

• A move to the suburbs

• A decrease in suburban property prices

What is a significant challenge in the suburban real estate market?

• High interest rates

• Decreasing property values

• Limited supply and high demand

• High supply and low demand

What is the current state of the New York real estate market?

• Declining market with decreasing prices

• Seller's market with high prices

• Buyer's market with low interest rates

• Stable market with balanced supply and demand

What type of properties are available in Manhattan according to the transcript?

• Suburban-style houses

• Luxury penthouses only

• Pre-war buildings and co-ops

• Modern high-rise apartments

How does the transcript describe the current lending environment?

• Unstable with high risk loans

• Stable with protections in place

• Volatile with fluctuating rates

• Restrictive with limited loan options