2026 New York Apartment Market Outlook
After a couple of years where the New York apartment market felt stuck in neutral, 2026 may be the year things shift back into gear. Expert forecasts show more people are expected to move – and that could open the door for you to do the same.
More Apartments Will Sell
With affordability challenges dominating the market over the past few years, many would-be movers pressed pause. But that pause button isn’t going to last forever. There are always people who need to move, and experts predict more of them will start taking action in 2026.
What’s driving the change? Two key factors: mortgage rates and apartment prices. Let’s dive into the latest expert forecasts for both, so you can see why more people are expected to move next year.
Mortgage Rates Could Continue To Ease
The #1 thing just about every apartment buyer has been watching is mortgage rates. After peaking near 7% earlier this year, rates have started to ease.
Forecasts suggest this trend could continue throughout 2026, but don’t expect a straight line down. There’s a saying in real estate: when rates go up, they take the escalator. When they come down, they take the stairs. And that’s exactly what we can expect next year – a slow, sometimes bumpy decline.
Even modest drops make a difference. If you compare current rates to last year’s 7% peak, you’re already saving hundreds on future mortgage payments. That small relief can be enough to make apartment ownership more attainable for many buyers.
Apartment Price Growth Will Be Moderate
What about prices? Nationally, experts expect apartment prices to continue rising, but at a slower, more sustainable pace. With rates easing, more buyers will re-enter the market, which will maintain some upward pressure – but big crashes aren’t expected.
Some neighborhoods in New York may see slight declines, but compared to a few years ago, prices are still well up. Local trends will vary depending on inventory and neighborhood demand, but overall, moderate growth is a positive sign. It makes planning your budget easier and gives peace of mind that prices won’t spike overnight.
Bottom Line
After a quieter couple of years, 2026 is shaping up to be a year of movement and opportunity. With more apartment sales projected, mortgage rates trending lower, and price growth slowing, the stage is set for a healthier, more active market.
So, the big question: will you be one of the movers making 2026 your year?
Remember – Who You Work With Matters! If you’re looking for an experienced agent to help navigate New York’s apartment market, contact me today. Let’s make your move a smooth and successful one.
