High-rise commercial buildings

Sub Markets

Property Sectors

Topics

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.

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

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. 

Connect

Inside The Story

REBNY

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy
New call-to-action
New call-to-action