Quarterly Housing Update 2011: 4th Quarter

In an analysis of fourth quarter housing indicators, the Furman Center finds that home sales volume continued to decline in the fourth quarter of 2011, with the number of transactions citywide down 15 percent from the previous quarter and 11 percent from the fourth quarter of 2010. Foreclosure starts were down in most of the city, with 33 percent fewer foreclosure notices issued in the fourth quarter of 2011 compared to the same quarter in 2010. Manhattan was the only borough where the number of foreclosure starts increased, although the number of notices issued in Manhattan still remained well below the numbers issued in any of the other boroughs.