Wednesday, July 6, 2011

Manhattan residential market held on in 2Q

Real estate brokers are being surprised at the moment by how steady the market is, during the second quarter mean prices increased and the average time an apartment spent on the market was consistent with the ten year average; surprising given the uncertainty hanging over the U.S. economy at the moment. Even though the performance wasn’t nearly as strong as last year’s second quarter this is because the tax credit for first time buyers was due to expire causing a boom in the market.

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