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My friend, broker and blogger (in that order) Noah Rosenblatt over at Urbandigs is on a mission to share his analytics concepts via a free/pay subscription model. He kept me posted on its development over the past year and I gave a little feedback.
His day trading experience and approach to metrics on top of his real estate agent experience provide an interesting result. As he says, it’s still a work in progress, but hey, what isn’t? I subscribe – at $20/month, its worth it. You help him keep the lights on and it provides yet another way to look at the Manhattan housing market.
The chart above tracks pending sales activity fromt the REBNY feed with a series of rules to make the results coherent. Gotta appreciate someone who discloses their methodology. Few do.
All that talk about shortage of inventory at the end of 2010 by many in the brokerage community causing a more expensive market in the spring struck me as premature: tighter inventory serves as an offset to weak contract volume=general price stability.
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