A residential market report predicting the New York City housing market in 2012 indicates that some housing experts anticipate a good year for the city's marketplace, The Real Deal reports.
As the new year approaches, some real estate professionals say that a buildup of housing demand in the Big Apple's residential market could make 2012 a busy year. In addition, Citi Habitats vice president Jay Molishever claims that high rents partnered with relatively low sales prices and increasing activity are all positive indicators for the new year.
"At some point the kindling is going to burst into flames again bringing high prices and high volume," Molishever told The Real Deal.
Meanwhile, Fox Residential Group president Barbara Fox claims that if sellers price their property realistically they will sell quickly, while those that are overpriced will likely not sell at all, she told the news source.
Regardless of future expectations for New York City homes for sale, the city's housing market has continued to show stability during recent years while many other regions of the country have struggled due to high levels of distressed properties and negative equity.