Hamptons Real Estate Market to Rebound This Summer After Rough 2016 Start

The Hamptons real estate market is bound for sunnier days after a volatile stock market dinged prices in the beginning of 2016. During first quarter, the average price for a Hamptons home fell 21 percent, compared to the fourth quarter of 2015, to roughly $1.9 million, according to Douglas Elliman, a real estate brokerage firm. 'We've seen a slowdown in velocity of transactions, but the buying public is still there and there still interested - they're just being a little more cautious,' said Zachary Vichinsky, co-founder of Bespoke Real Estate, a firm specializing Hamptons real estate sales. 2016 was the worst start to a New Year for stocks ever. 'Although there may be equity market volatility, I think ultimately it comes down to the individual - their liquidity situation and where they are in their life,' said Cody Vichinsky, also a co-founder at Bespoke, referring to the many factors affecting one's decision to buy a Hamptons home. theStreet's Scott Gamm reports from Wall Street.