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 Index Finds Broker Confidence at Record Levels

Broker confidence in the current real estate market rose to record levels during the second quarter of 2021, the Real Estate Board of New York said Thursday.  

According to REBNY’s Q2 2021 Quarterly Real Estate Broker Confidence Index, the Current Conditions Index (CCI) for residential brokers rose to 60.0 in Q2, up from 23.8 in Q1, while the CCI for commercial brokers increased to 20.8 after  five consecutive quarters in negative territory. 

The residential sector’s Expectations Index (EXI) also jumped to 55.8 for Q2 while the commercial EXI hit a record high of 52.5. 

“This renewed and record-level optimism exhibited by brokers this past quarter is driven by increased vaccination rates and the return of domestic tourists and entertainment throughout the city,” said REBNY president James Whelan. “Now is the time to build on this momentum with a focus on further boosting vaccination rates and adopting smart public policies.” 

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).

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