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New York City housing market showing vibrancy and bounce

by | Apr 15, 2021 | Real Estate |

Graduating from college. Securing a coveted job placement. Getting married. Having a baby.

Those are all seminal life events, to be sure, spelling memorable bullets points for legions of New York City residents.

This additional “accomplishment” – and it is indeed that – is also memorable for many borough denizens: home purchase.

Candidly, not much else trumps that from an investment perspective, does it? A proven New York real estate legal source duly stresses that, “For most people, buying a home can be one of the most important financial and lifestyle-changing decisions that you make in your life.”

Many NYC individuals and families have understandably put home-buying thoughts on the proverbial back burner over the past year or so, owing to the unprecedented COVID-19 pandemic. Indeed, about the only move that many have made is to exit the metro area for outlying areas.

Reportedly, that exit door is beginning to swing back the other way. Publications like the New York Times and Wall Street Journal are now reporting a resurgence and revitalization in the metro housing market, especially in select areas across Manhattan.

And especially for buyers. The Journal stresses especially that, Professionals with young children are fueling a jump in Manhattan home sales,” with enticements suddenly emerging for “more New Yorkers to buy.”

The Times echoes that theme and an evidence-buttressed trend spotlighting a sharp upward tick in listings and attractively priced opportunities for buyers. Manhattan, notes the paper, “is awash in price cuts.”

The metro real estate market for parties ranging from buyers, sellers and developers to lenders, investors and more is both vibrant and complex. Participants seeking candid counsel and experienced transactional advocacy can turn for help to a proven legal team of seasoned real estate attorneys.