Manhattan Apartment Sales Tumble, as Prices Drop for First Time Since Early 2020

[Epoch-Times-Bot]

Manhattan Apartment Sales Tumble, as Prices Drop for First Time Since Early 2020

Manhattan apartment sales plunged in the last quarter, as prices dropped for first time since the pandemic in 2020.
Brokers are becoming concerned that buyers and sellers are holding back because of economic fears and higher interest rates in one of the largest real estate markets in the United States, according to a report from Douglas Elliman and Miller Samuel, the real estate appraiser and consulting firm.
The Federal Reserve’s interest rate hikes, along with a weakening economy, rising prices, and recent tumbles on Wall Street, has had an outsized impact on Manhattan real estate, which is likely to persist into 2023....

Source: Manhattan Apartment Sales Tumble, as Prices Drop for First Time Since Early 2020

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