The Real Estate market in NYC is currently seeing rising prices of homes due to a limited supply of inventory on the market. Some could say these are conditions for a ‘perfect storm’ for sellers. With an overall halt in development over the past 5 years and all time low interest rates, there are considerable more buyers in the market for a home than there are properties to purchase. However, with recent announcements from the Fed disclosing that the stimulus support will begin to be wained off over the next period of months and gradually interest rates will rise, this period of opportunity for both buyers and sellers won’t last much longer. Since May, the interest rate has climbed just over .5% and will continue to do so. Therefore, if you’re planning to buy or refinance, the time to act is now, and for sellers, the market conditions for getting you top dollar for your property are in effect.