As wintry as it is, this is the time of year when we expect the housing market to begin to warm up. When it comes to real estate, the spring thaw starts early, especially after the Super Bowl.
According to the superb data provided on my friend Noah Rosenblatt’s Web site, UrbanDigs.com, inventory in Manhattan is up from a year ago. But sales are lower–and trending lower at this moment.
The number of actively listed apartments fell to 6,427 on Jan. 22, 2010 as opposed to 7,211 on the same date this year. As for the volume of sales at some stage prior to closing, there were 2,056 on Jan. 22, 2010 versus 1,881 this year.
The decline in sales activity largely seems to explain (more…)