New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


New York & Tri-State  + New York  + Apartments  | 

New York CRE Broker Confidence Hits Record Low 

The Real Estate Board of New York (REBNY) has released its Real Estate Broker Confidence Index report for the first quarter, revealing the current state of confidence among residential and commercial brokers in the city. Commercial broker confidence has reached new lows due to rising interest rates, challenging office market conditions, and banking sector instability. In contrast, residential broker confidence remained relatively stable as sales and leasing held steady. The report highlights concerns over obstacles to housing development, financial sector instability, return-to-office activity, quality-of-life issues, housing incentives, and potential regulations impacting property investors and maintenance. 

Commercial brokers expressed disappointment as expectations for office activity and leasing were dashed in the first quarter. Meanwhile, residential brokers reported improved sales and sustained leasing, particularly in the higher price ranges. However, concerns remained regarding ultra-luxury transactions and uncertainties surrounding a potential recession. 


Inside The Story

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

Step 1: Select Education
  • ◦People
  • ◦Economy
New call-to-action