Brokers, analysts, and developers are calling a market rebound, but not without a few cautions. New condos are returning to NYC, and our president, Stephen Kliegerman, sheds insight on the market’s forecasted comeback:
“‘I would call it a swell,’ said Stephen Kliegerman, president for new development marketing of Halstead Property. ‘It’s not a wave yet, but it’s certainly not a drizzle either.'”
Although the rebound is nowhere near (and not expected to be) the peak in 2006-2007, supply is getting shorter and a new crop of condos are paving the way for a developer’s market.
Read the full article at the New York Times: http://www.nytimes.com/2012/07/15/realestate/back-in-business.html?_r=2&pagewanted=all