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

REBNY Broker Survey Shows Continued Decline in Current Outlook, Improving View of Future

The Real Estate Board of New York (REBNY) said its Real Estate Broker Confidence Index report for the third quarter shows that confidence in current market conditions continued to decline. However, the six-month outlook for both commercial and residential brokers improved. 

Iin line with findings over the past three quarters, macroeconomic factors like rising interest rates, inflation and volatile equity markets pushed sentiments regarding current conditions lower in Q3. 

“Following a trend from the first half of the year, our members have expressed lower confidence in current market conditions and delays in client transaction decisions due to economic uncertainty,” said REBNY director of market data Keith DeCoster. “Many of the brokers were slightly more optimistic about the six-month outlook. These respondents view interest rate hikes as necessary medicine that will cause short-term disruption but will set the stage for a return to the long-term growth the city has previously enjoyed.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).

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