Hey everyone, this is James at Yoreevo, New York's #1 commission rebate brokerage for their April 2025 Manhattan Market update. And it was a remarkably stable month given all of the news out there. First on contract activity, we did see a 15% headline year-over-year increase, but that is a function of the quirk, a quirk in the data. Last April was inexplicably weak. So even just normal results this year look really good in comparison. You can see that when we compare to normalized levels of demand, there really wasn't any change. So overall for demand, no real change. Same thing on the inventory side, we saw a 1% increase in inventory. We kind of turned the corner here. We had been seeing very small decreases and now we're seeing very small increases, but nothing really too noteworthy both on a year-over-year basis. And again, when we compare to normalized levels of inventory. And finally on mortgage rates, we saw a little bit of an uptick. We're getting towards 7%. We're in like in the 6-8%-ish range. We have been in the 6.5%-ish range, but nothing too noteworthy there, especially given all of the uncertainty out there in the markets. So I'm not getting too carried away with this because a lot of the escalation in things picked up at the beginning of April. So presumably if you were looking in March and into April, you continued with your search, but we might see fewer people entering the market in April, which will result in fewer contracts getting signed in May and June. So we'll see how that goes next month. But in the meantime, if you want to save up to 2% on any property in New York City, of course reach out to us at info@yoreevo.com.
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