New York City’s real estate is looking a bit shaky right now – especially Manhattan – since the second quarter figures were released. While Manhattan held its head high amidst the country wide housing disaster for the past three years, latest statistics have shown cracks appearing. So much so, that the 38% dump in sales was hard to overlook.
The Corcoran Group, New York’s biggest residential real estate group stated that this low is the biggest in five years. This is especially concerning since this low came right in the middle of the usual hottest property season.