true view: NYC Should Never Be Counted Out- Letting Go of Emotion and Leading With Facts
In real estate — especially in a city as emotionally charged as New York — it’s easy for narratives to spin faster than facts. And following our recent mayoral election, the conjecture machine has been in overdrive. If you believed the loudest voices, you’d think NYC real estate was on the brink of collapse.
But here’s the thing:
This city has been declared “dead” more times than we can count… and every single time, NYC proves the naysayers wrong.
Right now is no different.
Emotion Makes Headlines. Facts Build Stability.
After the election, the commentary has ranged from dramatic to apocalyptic:
“Buyers will flee.”
“Regulation will freeze the luxury market.”
“We’re about to see a mass slowdown.”
These narratives gain traction because fear travels fast — especially in a market as high-stakes as ours. But emotion, while human, is not a strategy.
What the Facts Actually Show
When we let go of emotion and look at the numbers, we see a very different story:
NYC’s real estate market is not weakening — it’s strengthening.
Just a few data points that matter:
Signed contracts continue to climb, with NYC posting nine consecutive months of year-over-year contract growth, including a 5.8% increase this past May.
Manhattan recorded its highest number of October contracts since 2021, with 962 deals signed — strong activity by any historic measure.
In the luxury sector, contracts in the $10–20M bracket surged over 32% year-over-year as of Q3 2024.
Across NYC, contract volume has already surpassed pre-pandemic levels, signaling confidence, not caution.
Resiliency runs deep:
After 9/11, NYC’s population and GDP rebounded faster than any major U.S. city.
Following the 2008 financial crisis, NYC’s housing prices recovered two years faster than the national average.
Post-2020, NYC regained over 97% of its lost jobs, welcoming record levels of foreign investment and international buyers.
Manhattan remains the #1 global city for wealth, with more high-net-worth residents returning than leaving.
In every era of doubt, the data tells the same story: NYC bends but does not break.
Why Letting Go of Emotion Matters
As advisors, leaders, and industry professionals, we have a responsibility to ground our positioning in truth — not clickbait.
Letting go of emotion allows us to:
Serve clients with clarity, not fear-driven reactions.
Defend our guidance with confidence, backed by real market data.
Build trust, especially in uncertain moments.
Stay strategic, while others get swept into noise.
Demonstrate leadership, especially when headlines try to distort reality.
What This Means for Agents, Teams & Companies
Agents: When clients say “I’m waiting for the market to crash,” redirect them to contract data — not TikTok narratives.
Teams: Use facts in your weekly meetings; help your agents anchor in reality.
Brokerages: Strategic planning must be rooted in the truth of demand, not the emotion of the news cycle.
Clients: Empower them to make informed decisions by showing the real health of the market.
Final Takeaway
New York City should never be counted out.
Not after elections.
Not after market cycles.
Not after shifts in policy.
Not ever.
The numbers are clear: people are still buying, still investing, still believing in this city.
When we let go of emotion and ground ourselves in facts, we don’t just navigate the market — we lead it.
#TruePerformance #NYCRE #MarketFacts #RealEstateLeadership #NYCResilience