Thursday, January 4, 2007
The Commerce Department November New Residential Sales Report (32kb pdf) showed a 22.5% rise in our region, a 3.4% rise nation wide, and put a dent in the inventory of unsold homes to the tune of 6% nationally too. The news helped send the Dow Jones Industrial Average to an all time high above 12,500 on 12/27 with shares of publicly traded home builders rising too.
CNN reports that $23.9 billion dollars in bonuses will be earned by Wall Street traders early next year. The inevitable effect of this will be a vigorous real estate market in NYC.
In my experience, real estate has been recovering nicely in the second half of 2006. I personally have over $5 million in sales volume booked for the first quarter of 2007, and that pace promises to accelerate as we enter the new year. The phones are ringing even faster now. Corcoran Group's President, Pam Liebman commented on the phenomenon for CNN in a recent interview. see the video
Rarely available in NYC, this home features traditional details in a freshly made interpretation, designed by the renowned architectural team of Keebler & Amos. Although remarkably compact, it features a large backyard with ample parking for a miniature sleigh and eight tiny reindeer, plus a full toy making studio. We're showing it by appointment and it must be believed to be seen. Won't last! We're on vacation until the visions of sugar plumbs stop dancing in our heads. Happy Holidays!