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Elliman Report: Manhattan Sales 3Q 2015
Overall Manhattan inventory began to stall, unable to keep pace with the number of sales, placing pressure on housing prices. Record employment growth, a robust local economy, a weaker U.S. dollar and global economic uncertainty have all played a role in the changing conditions of the overall housing market. After four consecutive quarters of year-over-year declines, the number of sales increased 9.8% to 3,654 in the third quarter. Sales activity over the past year had essentially normalized following record high sales volume during most of 2013- 2014…
