NYC: Housing Market Improving
According to a recent New York Times article, New Yorkers are again on the hunt for co-ops, condominiums and town houses, sending prices higher. For January, the three largest real estate companies in the city have seen both prices and the number of signed contracts rise into the double-digit percentages compared to the same time a year ago.
Many real estate experts believe the trend will continue as mortgage rates remain stable and the city continues to have a budget surplus. The markets in Manhattan, the Upper West Side and Brooklyn are also noting an increase in sales activity as well.