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New York Commercial Real Estate

Residential Brokers Have Slightly Less Confidence in the Market

Concerns over rising interest rates and low inventory have caused a slight dip in broker confidence in New York City. REBNY's overall broker confidence index for Q2 2015 was 8.84, the same as a year ago, but down from 9.05 in Q1. Residential broker confidence slipped from 8.86 to 8.21, as brokers worry that a lack of two-bedroom apartments in particular, will affect market performance, The Real Deal reports. On the other hand, commercial broker confidence rose from 9.24 to 9.47, thanks to a strong job market. Brokers are also looking forward to a high sales volume and continued popularity in Brooklyn and Queens. [TRD]

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