Tuesday, November 29, 2011
Furman Center's 3Q New York Housing Report
They NYU Furman Center has released its Third Quarter New York City Housing Report:
We are pleased to share with you our latest New York City Quarterly Housing Update (Q3 2011). We find that home sales volume remained low in the third quarter of 2011, with the number of properties sold citywide four percent lower than the number sold in the third quarter of 2010.
The report finds that property values are also lagging in most of the city. Manhattan is the only borough where properties have appreciated in price over the last year. Foreclosures have continued to slow citywide, with 32 percent fewer foreclosure notices issued in the third quarter of 2011 compared to the same quarter last year. You can read the full report here, or the press release here.