New York's housing market in 2024 saw unpredictable rent prices surpassing pre-COVID levels, alongside improvements such as the removal of mandatory broker fees.
Kenny Lee predicts a resurgence of co-ops in New York due to high condo prices and affordability issues, despite the lengthy approval process typical of co-ops.
The suburban housing market is competitive, pushing more New Yorkers to purchase within the city, where available housing increased by 16.8% compared to 2023.
The luxury housing market is rebounding, with a 6.1% decrease in starting prices attracting potential buyers after years of stagnant sales.
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