How has the % of cash buyers for Manhattan’s new development and resale condos changed over time?
- Aug 2024 UPDATE: Cash buyers in new developments have rebounded to 71%, up from 2024 low of 61% in June. Resale cash buyers also saw a rise, increasing from 65% to 68%
- Jul 2024 UPDATE: Cash buyers in new developments edged up to 67%, while resale cash buyers remained steady at around 65%
- June 2024 UPDATE: Cash buyers in new developments dropped from over 70% to 63%, while resale cash buyers remained steady at 65%
- May 2024 UPDATE: Cash buyers in both new development and resale markets remained steady month-over-month, at just above 65%
- Apr 2024 UPDATE: After a spike in March, % of cash buyers dipped for both new and resale condos as mortgage rates retreated in March
- Mar 2024 UPDATE: After a dip earlier in the year, % of cash buyers surged upward in March for both new dev and resales
- Feb 2024 UPDATE: % cash buyers for Manhattan new dev and resale condos diverged, with new dev rebounding back to 70% and resale retreating to just below 64%
- Jan 2024 UPDATE: % cash buyers for Manhattan new dev and resale condos retreated to 65%
- As mortgage rates fluctuate, the percentage of cash buyers has moved in lock-step with approximately a one-month lag
- Over the span of a year and change, we have seen a bottom (38%) and a top (72%)
- 38% is the lowest level, and 73% is the highest level reached in the period tracked
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