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REBNY: Broker Confidence Rebounds from All-Time Trough
New York City residential and commercial broker confidence rebounded in the last quarter of 2020, after three consecutive record lows, as the COVID-19 vaccine continues to roll out, according to the Real Estate Board of New York’s Quarterly Real Estate Broker Confidence Index.
The current real estate broker confidence index is 4.35 out of 10, a 41% increase since its lowest point on record in the third quarter. Additionally, the future broker confidence index is 5.07, a 44% increase from Q3 – signaling that brokers feel the market has already bottomed out and is beginning its slow road to recovery.
“Broker confidence rebounding at the end of 2020 illustrates that the industry has an increasingly positive view that we can overcome the immediate challenges we face, including vaccinating all New Yorkers, getting New Yorkers back to work and boosting our economy,” said REBNY president James Whelan.
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- ◦Economy
