REBNY Releases Q4 2022 Broker Confidence Report

Confidence in current conditions among New York City’s residential and commercial brokers fell for the 5th consecutive quarter according to the Real Estate Board of New York’s recently released Q4 2022 Broker Confidence Report. Contributing to current concerns are “continued inflation, equity market volatility, and recently announced layoffs at some large employers” resulting in a 10.4% lowering from -17.41 to -19.43 of the Current Confidence Index (CCI) among residential brokers and an 11.0% dip from -40.58 to -45.61 among commercial brokers. However, the recent improvement of inflation and easing of mortgage rates helped improve the Expectations Index (EXI) among residential brokers from -5.46 to 12.85 — putting EXI in positive territory for the first time since the Q1 2022; and although similarly improving, commercial EXI remained negative, rising from -22.83 to -20.27.