New York City’s torrid housing market faces a slight slowing in sales in 2022 because of higher interest rates and a lack of supply, Brown Harris Stevens Inc. Chief Executive Officer Bess Freedman said.
“The Fed announced that rates will go up maybe two to three times next year, so we may see a little bit of a slowdown,” Freedman said in an interview on Bloomberg TV’s Surveillance on Tuesday. “Also, supply has diminished because demand is so heightened.”
Housing stock in many city neighborhoods is tight and prices have jumped. Manhattan’s luxury-home market is ending a record year, with 1,877 contracts signed at $4 million and above,
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