Hey everyone, this is James at Yoreevo, New York's #1 commission rebate brokerage with our May 2024 Manhattan Market Update, and it's going to be a pretty quick one this month because it was pretty boring. Aside from a continuation of the sluggishness that we saw in April, not much changed. When we look at the chart here, it's pretty easy to see. We had a 13% decline in the number of contracts signed. Just taking a step back, you can see that normally we have a bit of an uptick going from March to April to May in terms of the numbers of contracts that were signed. We didn't have that this year. It just kind of plateaued. So whether that was a function of March being unusually strong or April and May being unusually weak or some combination thereof, we definitely have seen a slowdown in that initial spurt of activity that we saw earlier in the spring. This is the chart you really want to focus on comparing to the 2017 to 2019 average, and you can see we're a little bit below normalized levels of demand and not much has changed since April. On the inventory front, we were down 2% year over year. That was exactly the same as last month. When we look at this by price point, there was a big build up, an increase in inventory at the lower end. Is that because mortgage rates affect the lower end more than the higher price points? I don't know. Bear's watching, but I wouldn't get carried away with it. And then mortgage rates, no change there either. We've been bouncing around 7%. The Fed hasn't done anything. The Tenure hasn't done anything, and mortgage rates haven't really done anything. So that's pretty much it. We are at the end of the selling season. We're heading into the summer, which is always seasonally slower. We'll continue to report back, but the next big spike in activity will be after Labor Day. So thank you for watching. Of course, if you want to save up to 2% on any property in New York City, you can reach out to us at info@yoreevo.com. We're happy to slice and dice this data however you like, and we would be happy to help with your search. So thanks a lot, and we will see you next month. Bye.