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Elliman Report: Manhattan Sales 1Q 2015

The Manhattan housing market took a breather after two years of robust sales and price growth. The downshift in many of the metrics tracked this quarter reflected the return to more sustainable conditions. Results fell short of last year’s highs, but remained close to long-term records. A strengthening local economy, employment growth, low mortgage rates, record tourism and elevated international demand continued to keep pressure on the market…

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