Citi-Habitats Signed Contracts Up 10%
A: For the month of January Citi-Habitats is UP 10% in New Sales Contracts Signed when compared to January of 2005!
I've said it over and over again! Media's take on housing is lagging NOT leading! I already wrote how we need a more leading indicator for NYC housing by gauging Buyer Confidence. The numbers don't lie and I'm sure the other big firms are seeing a similar pickup in activity over the past 3-4 weeks.
Expect to see the media outlets start to cover the activity pickup in the coming weeks, leading to increased buyer confidence; at least psychologically. What is not known is what sectors of the NYC housing market are picking up the most. I would expect the lower end; the studios and 1 bedrooms are getting more active as I still see the high end experiencing price reductions.