Manhattan’s real estate sales market is continuing its record-breaking streak, reporting the highest number of units ever sold during the first quarter of any year since at least 1989, according to a new report from Douglas Elliman.
“Even with rising interest rates, there is remaining optimism for fairly robust quarters ahead,” said the report’s author, Jonathan Miller.
Despite falling to 39% in the first quarter of 2021, its lowest level since 2014, the share of homes sold to cash buyers has now risen to the market’s usual rate of 47%, he added.
“If you think about how much of the market is not dependent on mortgage rates and
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