New development sales plummeted 30% in July
Source:
The Real Deal
Sales of new condominiums in July evoked the Tom Petty classic “Free Falling” — and it’s developers who are home with broken hearts. New development contract activity plummeted 30 percent last month, dipping below pre-pandemic levels for the first time all year. Developers reported 188 deals across the city, 37 percent fewer than in July 2019, according to a report by Marketproof. “There was one day in July where the contract numbers were so low
- Categories:
