The Correction Begins----Starting With a 25% Plunge In NYC Real Estate Sales

Real estate sales in Manhattan plunged 25 percent in the first quarter from a year ago, as the new federal tax law, stock market swings and a glut of luxury condos spooked buyers.

Sales in the first quarter posted their largest drop in nearly a decade and reached their lowest level in more than six years, according to a report from Douglas Elliman and Miller Samuel. There were 2,180 sales in the first quarter, compared with 2,892 last year.

 

https://www.cnbc.com/amp/2018/04/03/new-yorks-luxury-real-estate-market-is-in-correction.html

 

 

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