Checking Jackson Heights Real Estate Market Temperature Mid-January 2015
Logic would suggest that below freezing temperatures which recently fell as far as the teens would keep buyers away and ultimately slow down the real estate industry. But it appears that the logic driven by the low mortgage interest rates, low unemployment rate (December reported 5.6%), low monthlies and low inventory suggests a different outcome. All through December, through holidays, and the turn of 2015, phones have been ringing, email boxes were flooding and buyers have been attending open houses in droves.
Recent comparable searches have also showed a significant increase in RECENTLY CLOSED units as well as active listings.
Winter slumber and laid back holiday season? I am afraid is not an option for those of us on the front lines of the ever-evolving Jackson Heights Real Estate Market. Once the tide of the overwhelming demand rose, we can all collectively buckle up for one hell of a ride. 2015 is definitely the year to watch.