Elliman reports on 4th Qtr. Manhattan / Brooklyn rental markets

Although rental prices continue to rise, we are seeing the pace begin to slow as record low mortgage rates pull more consumers from the rental market into the purchase market.  Rents in the luxury rental market continued to outpace the overall market and the number of new rentals continued to rise.  Listing inventory is low and the vacancy rate is still falling.  We anticipate rents to remain high throughout the year as tight mortgage underwriting and an improving regional economy will keep the pressure on.’

elliman.com

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