It will be interesting to compare pre-Memorial Day to post-Labor Day. We saw multiple predictions of "there will be no Summer seasonal slowdown this year" obviously fail. (Ex: https://www-forbes-com.cdn.ampproje...arket-wont-be-slowing-down-in-the-summer/amp/)
If "everyone" who either took their units off the market for the Summer or is waiting for the Fall selling season lists (and we have seen some pretty big "taken off market" numbers) it could result in a reasonable shift in Market Pulse if contracts signed doesn't rebound concurrently.
From where I'm sitting my viewpoint isn't that contract signed numbers have gone down due to seasonality, but largely because the "pent up demand" from last last year is petering out. If you look at how much above average contracts signed in Manhattan have been this year it aligns with how far below average they were last year. So I think the last 2 weeks of September will be telling.
If "everyone" who either took their units off the market for the Summer or is waiting for the Fall selling season lists (and we have seen some pretty big "taken off market" numbers) it could result in a reasonable shift in Market Pulse if contracts signed doesn't rebound concurrently.
From where I'm sitting my viewpoint isn't that contract signed numbers have gone down due to seasonality, but largely because the "pent up demand" from last last year is petering out. If you look at how much above average contracts signed in Manhattan have been this year it aligns with how far below average they were last year. So I think the last 2 weeks of September will be telling.