Hey everyone! It's James at Yoreevo, New York's number one commission rebate brokerage, with our March 2026 Manhattan Market Update. 

For the third month in a row, we've been bouncing around flat. When we look at the number of contracts signed, we are down 3% on a year-over-year basis and up 5% versus normalized levels of demand. That's regardless of price point. We're basically on either side of flat, regardless of the price point. But this is the chart that we always focus on, comparing demand to normalized demand. You can see that, for the last three months, we are down a smidge to up a smidge, and that's very different than the fall, where we were seeing very big swings in contract activity on a month-to-month basis. Where we have not seen any swings—and we still are not seeing any swings—is on inventory. We continue to see big declines there. Inventory, or the number of listings on the market, was down 10% on a year-over-year basis. So, no change here. Buyers have fewer choices in the market, and that's really supporting pricing. You can see here that we're up a smidge when we look versus normalized levels of inventory, but it's still very restricted supply out there, not giving buyers many options. What has changed this month is mortgage rates. Last month, we were getting a little excited because the 30-year fixed actually dipped just below 6%, but I think we called the bottom there—or we bottom-ticked it—because interest rates have gone straight up since then. With the war in Iran, that's caused oil prices to go up, which has caused inflation expectations to go up, which has caused the 10-year Treasury to go up, which has caused mortgage rates to go up. It's really as simple as that. So, versus last month, mortgage rates are about 0.4% higher. We're in the thick of the spring selling season. I know these stats don't look that exciting, but we feel like we've been pretty busy. It really depends on where you're looking. The good properties are going quickly, and the bad properties—or the overpriced properties—are sitting on the market. It's really as simple as that. So, if you're in the market and you would like to get a commission rebate, of course, we'd be happy to help. You can reach out to us at info@yoreevo.com. So, thank you for watching, and we will see you next month. Bye.