Broker confidence surges amid city's recovery from pandemic

Brokers are getting their groove back following one of the worst years for New York’s real estate industry in recent history.

Broker confidence in the market increased for the second quarter in a row after hitting record lows during the peak of the pandemic, according to the latest confidence index report from the Real Estate Board of New York. Brokers’ overall confidence during the first quarter of the year was about 6.7 out of 10, a 53% jump from the fourth quarter of 2020 and a 79% increase year over year, the report says.

This is also the highest confidence index since the fourth quarter of 2019–the last quarter

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