NY Real Estate Sentiments Rise, Still Buyer’s Market
Loudonville, NY (WIBX) - New York's real estate market is slowly getting back on its feet, according to the Siena Research Institute.
Real estate sentiments for this quarter rose nearly eight points, but still sit more than 12 points off of the break even level, where optimism equals pessimism.
Don Levy, director of the SRI, says the increase is a good sign and may lead to a leveling of the housing market in this state, but that we aren't there yet.
"Overall, more New Yorkers continue to say that things are tough, the real estate market is problematic," Levy said. "But, we've seen improvement and a more optimistic attitude this quarter than we have in two and a half years."
Since the end of 2011, current selling sentiments have risen nearly 27 points, with overall sentiment growing by nearly 30. Levy says the upcoming presidential election, combined with other factors, will play a major role in how the next two quarters play out.