Manhattan Apartment Sales Drop, An Ominous Sign For NYC Real Estate Market

Manhattan Apartment Sales Drop, An Ominous Sign For NYC Real Estate Market
Apartments on East 10th Street including building 315 are shown across from the Tompkins Square Park on the Lower East Side of Manhattan. Benjamin Chasteen/The Epoch Times
Bryan Jung
Updated:
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Apartment sales contracts for Manhattan nearly plunged by 30 percent last month compared with June 2021, as the New York real estate market began to cool amid fears of recession and rising mortgage rates.

NYC real estate sales prices rose to a record high through the first half of the second quarter with rising prices and strong sales, exceeding the previous record set in the same period three years ago.

Bryan Jung
Bryan Jung
Author
Bryan S. Jung is a native and resident of New York City with a background in politics and the legal industry. He graduated from Binghamton University.
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