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Buyers Face Tight New York Housing Market

TheStreet

If there is one overwhelming theme going on in the New York City home sales market right now, it’s tight supply. Realtors in New York City say there are so few properties available that clients are finding themselves in bidding wars with other eager buyers, and would-be buyers are getting outbid on home after home, and they’re getting frustrated. So why aren’t more people selling in a red hot market? Here’s a snapshot of the Manhattan, Brooklyn and suburban New York housing markets, from the vantage point of real estate agents on the ground and insights from executives at Douglas Elliman, BOND New York and Houlihan Lawrence.