New Condos are not selling like they use to

Just a few months ago, new developments in New York City were selling sight unseen. Now, developers are happy if they get a couple of contracts signed each month.

What I find interesting in the article, and what I am also seeing with my own business, is that more purchases are being made by first time buyers. Those who do not need to sell first are in a much better position to buy.

NYTimes article