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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.”
- ◦People
- ◦Economy
