In two live Bloomberg TV appearances over as many days, top NYC agent Lisa Lippman and CEO Bess Freedman discussed their take on the current housing market.
While interest rates remain a bit of a challenge, most buyers are beginning to adjust to them and are coming off the sidelines, said Lisa. She is seeing an uptick in parents buying homes for children, cash buys, and buyers coming from South America and Europe. Manhattan’s luxury market is still strong.
Taking a more national look, Bess discussed how the housing market remains incredibly uncertain for many Americans, which reflects the political and economic environment right now. Interest rates have taken a back seat to inflation and rising costs as discretionary income becomes harder to hold on to. She also said, in this kind of market, sellers should seek out maximum exposure before considering private listing networks.