The shrinking supply of unsold new development units caught up to the market in November.  There were 187 contracts signed at new development projects last month, down 22 percent from the same time last year, according to Marketproof’s monthly report. That drop mirrors the market segment’s fall performance, which is down roughly 21 percent year-over-year since the start of September.  Contract activity for new development pales in comparison to the city’s performance as a whole, which has surged in the last few months despite concerns over how the November election of Zohran Mamdani might deter wealthy buyers. In November, overall […]

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