NYC Home Market to Face Glut After 2018 Sellers Found Few Takers
- Fewer than half the homes listed last spring have been sold
- Most 2018 peak-season homes sold for less than initial price
Photographer: Craig Warga/Bloomberg
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Less than half of the New York City homes offered for sale last spring have found buyers, a new study from StreetEasy shows. And as the market’s peak season approaches again, another wave of inventory is coming.
Just 48 percent of the homes listed from March through May of last year had been sold as of Feb. 1, data from the listings website show. That’s down from 62 percent in the same period a year earlier.