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REBNY: Broker Confidence Is On the Rise

NEW YORK CITY-Following 2013's first improvement in brokers' confidence during the last quarter, brokers remain hopeful for the first half of this year.

By Rayna Katz | Updated on February 04, 2014

NEW YORK CITY–Brokers are optimistic about the real estate and financing market for the first six months of 2014, mostly due to the increasing health of the economy, according to the Real Estate Board of New York‘s real estate broker confidence index. The index also showed an increase in the fourth quarter of 2013 from the previous quarter, marking the first increase in confidence for the entire year.

“The commercial sector closed on a high note in 2013 and barring a large influx of space, we can expect this market to remain strong,” says REBNY president Steven Spinola. “We anticipate that the residential market will grow in 2014, as buyers expand their search into the other boroughs. Foreign investors have emerged as an important aspect in the Manhattan market in the past 12 months and we believe this activity will continue to enhance the market activity in the coming year.”

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