I took a look at the change in new development inventory versus re-sale inventory both by year-over-year change (quite dramatic) and number of units. Both categories bottomed out at the end of 2013.
These trends are based on Manhattan co-ops and condos which represent more than 98% of the “non-rental” market. Much of the new inventory coming online is located within the “luxury” market which is the top 10% based on price.
