As COVID-19 continues to devastate New York, Q2 property closed sales is expected to drop 60+ percent. This while Q2 GDP is expected to shrink 34% according to Goldman Sachs. Only in Q3 do we expect property transaction activity to pick up again compared to Q2, although it would still be a drop compared to prior year.
Read about it at COVID-19 in Manhattan and the current situation
About:
Wei Min Tan is a Manhattan, New York property broker focusing on global investors of Manhattan condominiums. Wei Min has been interviewed by CNBC, CNN, Wall Street Journal and New York Times on the Manhattan property market. Wei Min can be reached at tan@castle-avenue.com
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