Flickr photo by palisade 14
With the news this week of
plunging home sales across the country, doom and gloom has enveloped almost everyone I know. Stock prices dropped impressively, and the New York Times led the paper yesterday to report on mounting anxiety related to the impact of the latest housing statistics.
To be sure, I recently took a dim view (which I retain) about the chances of a
housing recovery in the Big Apple, but Josh Barbanel, whom I know and much respect, injected welcome perspective in an article he wrote yesterday in the Wall Street Journal. The headline said it all: Continue reading → Like this: Like Loading...
Commentary | Tagged
Apartments, Existing-home sales, Homebuyer tax credit, House prices, Josh Barbanel, Manhattan real estate, Market analysis, National Association of Realtors, New York City, New York Times, New-home sales, The Big Apple, U.S. Real Estate Market, Wall Street, Wall Street Journal |
The National Association of Realtors reports that existing-home sales in the U.S. climbed 7.6% in April above March’s level.
Economists surveyed by Dow Jones Newswires expected sales last month to climb 4.7%, to a rate of 5.60 million.
The increase was 22.8 percent over one year earlier.
At the same time, inventory rose to 8.4 months at the current sales pace from 8.1 months in March.
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Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022
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