After last week’s rental market report release, I thought I’d take a look at the average size of a sale and a rental over the past 20 years. Sales (blue line) represent co-ops and condos that closed during each period. Rentals (pink line) represent rentals that closed during each period.
The chart shows continued decline in the average size of rentals over the period with a weird blip around the collapse of Lehman. The sales market showed less variation. While size fell over the first decade, likely as sharply rising prices pushed shift towards smaller unit sales, the trend began to rise again as the market peaked in 2007-08.
With the micro-unit phenomenon seemingly gaining traction (anecdotally), I’m not sure we’ll see the average size of rental units grow in the near future despite the strength of the current luxury rental market. · Matrix [matrix.millersamuel.com] · Three Cents Worth archive [Curbed]
http://ny.curbed.com/archives/2013/09/17/three_cents_worth_manhattan_unit_sizes_no_small_change.php
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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