Hey everyone, it's James at Yoreevo, New York's number one commission rebate brokerage with our June 2026 Manhattan market update. And we had a very solid end to the spring selling season.

You might be thinking, "Wait, I thought the spring selling season ends in May." And it kind of does. Buyer activity falls off in June, but you have a lot of May buyer activity, a lot of May accepted offers that actually go into contract in June. So June actually has pretty significant contract activity before falling off in July, August, and September. And when we look at that contract activity, it was pretty strong. We are up 14% versus last year and 16% versus normalized levels of demand. You can see here in our favorite chart, not quite back to the highs on the increases versus normalized levels of demand, but still a very solid end to the spring selling season. On inventory, no real change there. Inventory remains tight. We are down 8%. The number of listings was down 8% at the end of June. That's 11% below normalized levels. So buyers aren't getting any favors from the inventory side. Low inventory continues to be the main pillar supporting prices. And so you might be thinking, okay, inventory is not really changing. What's driving this pickup in demand? You always look at mortgage rates. And there was miraculously little movement on the 30-year fixed this month. From the highest to the lowest rate this month, it was about 0.05%. So very little movement. We're still right around 6.5%. So it seems that buyers are just out there feeling good and they're buying apartments. It's really as simple as that.  The summer is a slower time, but it's not a slow time. So if you are in the market, we'd be happy to help you get a commission rebate on any property in New York City. You can reach out to us at info@yoreevo.com. Thank you for watching and we will see you next month. Bye.