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REBNY: CRE Brokers Like What They See

NEW YORK CITY-New research from the industry trade group shows a small boost of confidence in the market, though residential real estate sellers' belief in the market is shaky.

By Rayna Katz | Updated on July 30, 2013

NEW YORK CITY –Broker confidence in the local commercial real estate market has increased, but its on the downswing on the residential side. The latest real estate broker confidence index, created by REBNY, shows a slight rise for the second quarter of 2013 for the commercial market and a slight decline amid some uncertainty in the residential sector.

The overall present situation index (commercial and residential) rose from 8.87 in the first quarter of 2013 to 9.05 in the second quarter, largely due to the spike of confidence in current financing in the commercial sector. Meanwhile the residential division saw a decline to 8.71 this quarter, down from 9.02.

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