Manhattan skyline across the East River, with One Vanderbilt and the Chrysler Building visible.

The Market Report: September 2026

The Pucker | Heinlein Team
September 1, 2026

What's Looking Up

We get our last few weeks of summer in September, which are historically followed by the opening bell of the fall real estate selling season in New York City, when we see an influx of new property inventory and renewed interest from buyers. Many sellers hold off coming to market in July and August while buyers work on their tans and wait to see what new gems come on after Labor Day. There were many buyers who kept active in the summer months, some nabbing good options in neighborhoods that had lower competition, or they were getting well-versed on the market and now ready to pounce quickly when the right property for them comes on in the fall.

The next months will tell how bullish buyers will be given uncertainties of ongoing international conflicts affecting market volatility and the impact of persistently high inflation and elevated treasury yields – which contributed to mortgage interest rates ticking back up the past few weeks to some of their highest levels all year. With the Fed likely to raise rates and inflation not calming, the cost of borrowing is unlikely to have any significant decreases soon.

But not all is gloomy for our real estate sales market. Some lenders have gotten more creative in their offerings. Adjustable-rate mortgages (ARMs) with lower rates and costs are appealing to many buyers – particularly younger buyers who are unlikely to stick around as long in their homes with life stage changes not too far off; holding the property five to seven years is typically a fair timing projection. So the timing makes sense. Also in the mix are buyers who are keen on getting an appealing place now and refinancing in the not-too-distant future, locking in a long-term home at a preferable price.

There is also the growing pool of renters who are getting squeezed. Rents in the city hit another record high after a record high this summer, with citywide median rents escalating over six percent year-over-year, soaring nearly 25 percent higher than pre-pandemic levels. This is likely an ongoing trend. With that and the pressure of high inflation, owning offers some may-be buyers the security of cost predictability and the reasonable assumption of financial growth based on the historical performance of New York City’s real estate market.

If you’re in one of those camps, meet with your real estate advisor to shore up your preparedness since you won’t be alone in competition, and get ongoing input on inventory, on and off market, since it will remain historically low even if increased.

Have a great Labor Day holiday weekend ahead and a nice finish to your summer in the upcoming month!

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