Furman Center Launches New York City Quarterly Housing Report

Research & Policy | March 28th 2012

In an analysis of fourth quarter 2011 housing indicators, the Furman Center finds that home sales volume continued to decline citywide, 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. Manhattan was the only borough where the number of foreclosure starts increased, although the number of foreclosure notices issued in Manhattan remained well below the numbers issued in any of the other boroughs. The Quarterly Housing Update is unique among New York City housing reports because it incorporates sales data, new construction indicators, and foreclosures. It also presents a repeat sales index for each borough to capture price appreciation while controlling for housing quality. View the press release.

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