Hey everyone, it's James at Yoreevo - New York's #1 commission rebate brokerage with our May 2023 Manhattan Market Update. And if you remember the last couple months, we've seen a lot of volatility. March was very strong. April was quite weak, but May picked up right where March left off. On a headline basis we were down 12% in terms of the number of contracts that were signed versus last year. But remember the comparisons last year are lumpy and they ease significantly as they go throughout the year. So what we like to do is compare to the 2017 to 2019 average. And compared to that, we are up 9% and that's just shy of the increase of 12% that we saw in March. So when we look at the chart here, you can see very strong March, big step back in April, and  quite a big rebound in May. And we can't point to anything specific as to what might be driving this. It could just be, well I guess it is, just quirks of the data, because remember last month we said we weren't really seeing it in our business, and this kind of shows that April was more of an aberration, and the market remains quite strong. The high end is particularly strong if you look at the breakdown by price point. We actually saw an increase of 1% in the $2-5 million range. That's still well below where it was in 2021, but a very strong showing nonetheless. And this is comparing current demand to the 2017 to 2019 average, which is what we consider normalized levels, so we're above normalized levels of demand in the Manhattan market right now. When we look at inventory, same boring story there, we're up just 1% year-over-year. This is basically unchanged since August. So we're coming up on one year of basically no change in inventory on a year-over-year basis. I could be wrong, but I think every month since then, it has been within 2% of the previous year's levels. So very boring and that's what's supporting the market, because buyers just don't have that many choices to make. And so there's a bit more urgency when buyers see something that they like. And this is all in spite of higher mortgage rates, which we'll get to in a second. You can see here just the purple line is tracing last year's levels, really no change there. By price point there's some variation, but really nothing too material. And then on mortgage rates they are drifting higher so this is all in the face of higher mortgage rates. And you can see here, it's been drifting up. I had a buyer just this week who said that one of the big banks was quoting her 7%, which just a month or two ago would have been insane. I saw one person get a quote under 5% back in, might have been in February. It was for an adjustable rate but still a very attractive rate nonetheless. And after some shopping, the rate was generally in the called 6.5% to 7% range, so mortgage rates are basically back to the highs and the market is very strong. Buyers just seem to have so much pent-up demand. They're so eager to make the purchase that maybe they postponed for a year. That they're really moving forward with determination on the choices that they do have out there. So pricing wise, I'd say we're probably flat-ish over the last year. It's going to vary a bit. So like always you can contact us and we're happy to talk about your specific search. Slice this data however you like. Obviously help with your search and get you a commission rebate for up to 2%, but it really depends on where you're looking, what price point you're looking at, what property type, and a lot of other factors. So feel free to reach out to us at info@yoreevo.com and we'd be happy to help. And thanks for watching, bye.