NEW YORK CITY—The Real Estate Board of New York's broker membersreported a continuing growth in confidence in the first quarter of2014. The growth in confidence builds on the positive trendgoing back to the third quarter of 2013. The report also reflects asimilar growth in confidence for the market six months from now,according to the REBNY Real Estate Broker Confidence Index.
The first quarter 2014 report showed an increase in the overallconfidence indexto 9.21 from 9.00 compared to the last quarter.This jump is due in part to the steadily improving economy as wellas the continued increase of home sales in the city's residentialmarket. The overall confidence indexshowed a significant jump fromthe third quarter 2013 when the Index was 8.75.
“Our brokers—both commercial and residential—continue to expressstrong confidence in New York City's real estate market,” saysSteven Spinola, REBNY president. “The continueduptick in the broker confidence index is a robust sign of ourmembers' faith in the city's steadily improving economy.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
