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While most of the country is experiencing a sluggish spring growth, New York housing market delivers some positive numbers this month, United Relief Centres expert reveals.
(PRWEB) June 03, 2014
United Relief Centre, a complete financial and real estate advocacy firm, has taken another step in their mission to keep homebuyers and realtors up to date with the current market conditions and their prospective impacts. As part of these endeavors, one of the real estate experts working for the company has recently shared an in-depth analysis of spring market situation in New York housing industry. According to the spokesperson for the United Relief Centre, New York Market is one of the brightest spots this spring and hence chosen as a primary focus of the experts analysis.
Sharing his views regarding the situation in New York and how it reflects the future of the US housing industry, the expert explains, The industry has been on a rebound for two years but during these two years the upstate markets remained the hottest. This year, the situation seems to have reversed as the growth is seen mostly in the Northeast. While most people are worried about slow start of the spring market, they are neglecting the bigger picture. The market may have shifted but in a way that only helps in creating a balance.
The analysis also revealed foreign investment as one of the most important factor leading to growth in the New York market. Queens, according to the URC expert, is one of the most promising markets in New York. Home prices in Queens spiked 10.3 percent in the first quarter. The prices of the luxury homes alone rose 19.5 % in Queens. The supply, on the other hand, has hit the second lowest level in nine years.
Highlighting some of the historic facts, the expert also discussed the reason why the interest has shifted from Brooklyn to Queens. Brooklyn is historically more attractive but the prices have gone too high lately. Despite the enormous rise, Queens still remains more affordable than Brooklyn that itself experienced a 7.3% growth, he explained.
In the end, the expert concludes that the growth in New York indicates that overall US market is not heading for a crash, and is sure to pick up during the second quarter. For more information on the US housing market and mortgage rates, please visit the website, http://www.unitedreliefcentre.com.
About United Relief Centre
United Relief Centre is an organization founded by a team of financial experts from the US and Canada. The organization provides advocacy and support to people looking for financial help in the areas of real estate, investing, credit, and debt settlement. The major objective of the organization is to bridge the distance between those who seek help and those are able to provide it. It spreads awareness regarding relief programs, mortgage products, and financial help options that are available for people in financial distress. By promoting better awareness of available option, URC aims to help people improve their financial standing and play a better role in economic development.
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