WHILE THE U.S. SUFFERED IN Q2, MANHATTAN HOUSING IMPROVED
After disturbing Q2 reports were released last month on the U.S. housing market (in “Weekly Roundup” below), the Wall Street Journal’s Josh Barbanel armed himself with statistics to show that the situation in Manhattan wasn’t so bad. Sales of apartments in Manhattan appear to have strengthened this summer, with median prices up, inventory down and an increase in the number of apartment closings, he reported.
“The figures suggest that the Manhattan market, buoyed by a resumption of hiring and a healthy Wall Street bonus season ahead, has so far escaped much of the distress across the country,” Barbanel wrote. He noted that July’s median home sale price in Manhattan was $900,000 in comparison with $182,600 nationwide.
In a subsequent piece, Continue reading