Douglas Elliman releases the Newly Signed Contracts Report for January 2024. Newly signed contracts for co-ops and condos in Manhattan rose year over year for the second time as new listings expanded. The Fed pivot in December set the stage for lower mortgage rates in 2024, which is expected to add more listings and increase demand. Newly signed contract annual gains for co-ops above the $1 million threshold rose sharply for the fifth time as condos expanded for the second time.
