Overall, current real estate sentiment remains positive, but a survey released Monday found that the market could be shifting from buyer-friendly to more of a seller’s market in some parts of the state.
According to the Siena Research Institute, the overall current real estate sentiment score was 12.0 in the fourth quarter of 2013, down 5.7 points from the previous quarter. In upstate, the score dropped 4.1 points to 15.3.
“New Yorkers’ attitudes towards the real estate market remain positive, but after seven quarters of steadily improving views, we stopped improving,” Siena Research Institute Director Dr. Don Levy said. “The market is strong, but for how long?”
Levy said the real estate market is “in transition,” with New York City consumers already experiencing “the dawning of a seller’s market.”
New York City voters surveyed had a lower overall current real estate sentiment score — 6.5 — than other parts of the state. While upstate’s was at 15.3, the sentiment score in the suburbs was 17.6.
Among other demographics, sentiment among men was 1.4 points higher than women. The highest score — 27.2 — was registered among those who earn more than $100,000 a year, while the score for those earning less than $50,000 was minus 2.1