NYC neighborhoods where housing inventory is rising fastest

"Citywide inventory is up by more than nine percent year over year, but the real story is in the pockets where growth has been explosive. Brighton Beach leads the charge, posting the largest increase in available homes across New York City, with inventory up nearly 49 percent in a single year. In a neighborhood that's typically been known for slim pickings and fierce competition, that type of increase is rare-and creates an opportunity for buyers who have long been shut out of the area."

"Queens is having a moment, too. Flushing follows close behind with a 48 percent jump in listings, while Rego Park and Long Island City are also seeing sharp climbs. In Brooklyn, the inventory spike stretches across very different corners of the borough, from Bushwick and Crown Heights to Midwood, East Flatbush and Sheepshead Bay. Even Manhattan makes an appearance, with the Financial District seeing one of the strongest gains in new listings anywhere in the city."

"So why the sudden flood of for-sale signs? A big part of it is timing. Mortgage rates stabilized late last year, which led buyers back into the market-and sellers noticed. StreetEasy's latest market report shows that more homes entered contract in December than usual for the season and new listings followed. Now, inventory is rising even as sales pick up, which is a rare combination in New York, where supply almost always trails demand."

Citywide housing inventory increased by more than nine percent year over year, while specific neighborhoods experienced much larger jumps. Brighton Beach recorded nearly a 49 percent rise in listings, and Flushing saw a 48 percent increase. Rego Park, Long Island City, Bushwick, Crown Heights, Midwood, East Flatbush, Sheepshead Bay and the Financial District also registered notable gains. Stabilizing mortgage rates late last year drew buyers back into the market, prompting more sellers to list homes. Inventory is rising even as sales pick up, a rare occurrence in New York, though the long-term housing shortage persists.

Read at Time Out New York