The number of potential home buyers who signed contracts to purchase existing homes jumped by its largest margin in eight years and rose for the third straight month in April.The current rise in mortgage rates might be due to increased demand for mortgages. Does this mean we've hit a bottom in real estate prices?! No, this information isn't conclusive on its own.
As for NYC, I think it's still in store for a deeper correction if you refer to this older post.
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