Even in light of the slew of existential threats facing the industry, commercial brokers’ confidence is on the rise.
The Real Estate Board of New York’s quarterly real estate broker confidence report showed its Current Conditions Index for commercial brokers spiked to hit a record high of 36, up from 20 the quarter before and above the previous peak of 32 from Q4 2019. For residential brokers, the index hit 56, a slight decline from the quarter before.
“While the third quarter saw the real estate industry help lead the city forward on its path to economic recovery, this report highlights the work that still needs to be done,” REBNY President James Whelan said in a statement. “It’s imperative that the incoming City administration and the private sector continue to work together on issues critical to the City’s economic success such as improving public safety, creating good jobs, producing much-needed housing and safely welcoming back tourists.”
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