October 11th 2022
Curbed
In August, Becki Danchik, a broker with Coldwell Banker Warburg, listed a $385,000 studio on the Upper West Side. Within ten days, it was in contract for over the asking price. The housing market was cooling at the time — the interest rate was in the 4 percent range in early August — but the apartment was in a sought-after line in a doorman building and New York doesn’t have a lot of inventory in what passes for the starter-home category.
https://www.curbed.com/2022/10/mortgage-rates-rising-first-time-buyers-priced-out.html