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REBNY: Broker Confidence Remains High Despite Risks on the Horizon
New York City broker confidence in the current real estate market remains high despite risks on the horizon, the Real Estate Board of New York (REBNY) said Thursday. In REBNY’s Q3 2021 Quarterly Real Estate Broker Confidence Index, the Current Conditions Index (CCI) for commercial brokers rose to 36.11 in the third quarter, up from 20.81 in Q2.
For residential brokers, the CCI remained high at 56.29, though it declined slightly from the record high of 60.04 posted in Q2.
However, uncertainty over the future has grown, as the Expectations Index (EXI) for both residential and commercial declined from Q2. For commercial brokers, EXI dropped significantly from 52.50 in Q2 to 37.26 in Q3.
“While the third quarter saw the real estate industry help lead the city forward on its path to economic recovery, this report highlights the work that still needs to be done,” said REBNY President James Whelan.
- ◦Economy

