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Manhattan is becoming a buyer’s market as apartment prices fell and inventory rose in the second quarter of 2024, according to new reports.





#2024

The average real estate sales price in Manhattan fell 3% to just more than $2 million, according to a report from Douglas Elliman and Miller Samuel. The median price fell 2% to $1.2 million, and prices for luxury apartments fell for the first time in more than a year, according to the report.

Small changes, yield big results…



#2024

A growing number of Americans are struggling to keep up with their car loan payments, with the highest delinquency rate in almost 30 years.

This trend is driven by rising interest rates on new auto loans, making it difficult for millions of car owners to afford their monthly payments. The situation reflects economic uncertainty, particularly in terms of consumer spending, as higher car prices and borrowing costs are exacerbated by the Federal Reserve's intention to maintain higher interest rates.




#2023

Mortgage rates surged to a 23-year high this week, landing another blow on the housing market.

The rate on the average 30-year fixed mortgage increased to 7.31% from 7.19% the week prior, according to Freddie Mac. That's the highest rate since mid-December 2000, when it averaged 7.42%.




#2023

September (gray) is the clear negative outlier when looking at the final four months of the year. The chart shows that an investment of $1,000 invested only in the month of September going back to 1960 would be down 40% to $600 by 2022. October (purple) would be up 79% to $1,785, measured the same way.






#2023