Sunset Park Condos Mid-Year Report

Sunset Park Condos Mid-Year Report

  • Sela Russo
  • 07/21/23

 

Market update for Sunset Park condos: The U.S. economy survived the first half of 2023 without going into a recession, as consumers turned out to be more resilient than most economists expected. Despite going through high inflation rates, banking crisis, and debt ceiling issues in the first six months of the year, consumers remain upbeat, and their confidence recovered somewhat in recent weeks. The housing market, on the other hand, has continued to encounter headwinds since late 2022, as interest rates stayed elevated and housing supply remained tight. Even with these headwinds, the Sunset Park market has remained resilient and prices are moving up again.

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