Many sellers are enthusiastically awaiting this year’s bonus season, some pricing this perspective into their offer and timing expectations (see Sellers above). Indeed, the financial industry appears to have, in many ways, rebounded more quickly than predicted.
We anticipate that if bonus season substantiates seller’s hopes, it may well trigger the thought that the worst of the NYC housing downturn is behind us and that we have, at the very least stabilized. In turn, many “shadow” sellers who otherwise would not dare step off the sidelines to list their properties would now do so, resulting in a significant spike in inventory now that it’s safe to come out from behind the shadows.
