Why Manhattan Homebuyers Aren't Budging on Prices

The video discusses the bifurcated real estate market, focusing on new developments and resale trends. It highlights record prices in the resale market, particularly in New York City, and the impact of tight supply. The video also examines discounting practices and the reflective behavior in the high-end market, where sellers adjust prices to meet firm buyers. It concludes with an analysis of cyclical market patterns and aspirational pricing post-financial crisis.

What percentage of the market is considered new development?

What has been observed in the resale market in terms of prices?

What is the impact of discounting on sales in the market?

How are buyers behaving in the current market according to the text?

What does the text suggest about the pricing behavior of sellers?