Take a look here. I went to Monthly Contract activity, all years, and then photoshopped DEC and JAN so you see them next to each other. Hmm, looks like 2015/2016 was last time - https://www.urbandigs.com/marketwide-charts/monthly-contract-activity/We'll see where we end up a week from now, but when was the last time we saw a decrease in monthly contracts signed from December to January?
Yes Q4 2015 saw 2858 signed contracts and January 2016 only 609 indicated the "down market" had arrived.Take a look here. I went to Monthly Contract activity, all years, and then photoshopped DEC and JAN so you see them next to each other. Hmm, looks like 2015/2016 was last time - https://www.urbandigs.com/marketwide-charts/monthly-contract-activity/
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hm, yeah, I see where you going with this. It could also be the anti-seasonal nature of 2020, where the demand cycle happened to peak in Dec..guess we will know soon enoughYes Q4 2015 saw 2858 signed contracts and January 2016 only 609 indicated the "down market" had arrived.
Q4 2020 was 2662 (7% lower than 2015) so I'm not sure it was an indication the market was "back" (especially since you have to take into account the time dislocation of demand in 2020 due to 3 months of shutdown earlier in the year). Point being we saw what followed after the last time January signed were below December.
Yes!The NYC market is too fragmented with too many disparate stakeholders to have a singularly conclusive story.
Yes!one can argue this market goes down to the building level, making every building its own little marketplace. I agree.