Thursday, May 15, 2008
NEW YORK - Manhattan apartments hit new record highs in the first quarter of 2008. According to NY's top real estate agencies, strong sales in the city's flourishing luxury segment have been the market's main driver, but that overall sales are slow. Demands are high and supplies are tight for multi-million dollar luxury apartments in Manhattan.
The average cost of a New York City apartment will range between $1.63 million to $1.72 million during the first quarter of 2008, based on separate reports there is an increase of anywhere between 19 percent and 47 percent over average apartment prices for the first quarter of 2007. The two of the most elite addresses with units on the market are excluded - 15 West of Central Park and the Plaza, where the average prices came down to $1.42 million.
The average cost of a New York City apartment will range between $1.63 million to $1.72 million during the first quarter of 2008, based on separate reports there is an increase of anywhere between 19 percent and 47 percent over average apartment prices for the first quarter of 2007. The two of the most elite addresses with units on the market are excluded - 15 West of Central Park and the Plaza, where the average prices came down to $1.42 million.
posted by Webprofits
@ 3:38 AM
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Friday, May 9, 2008
WASHINGTON - The percentage of vacant houses on sale in the United States set a new record high in the first quarter of 2008. The Census Bureau report showed that 2.9% of U.S. homes, excluding rental properties; were vacant and up for sale, compared with 2.8% in the fourth quarter of 2007. It was the highest quarterly number in records going back to 1956. That works out to 2.28 million properties, up from 2.18 million in the same quarter last year, according to the report.
U.S had the biggest gain in vacancy rates among home owners, rising to 7% during January to March period from 6.5% in the fourth quarter of 2007. Vacancy rates fell in the Midwest and South, but climbed in the Northeast. The national vacancy rate, including new and existing homes, has been steadily increasing since mid 2005. The Census Bureau's report also said that the U.S. homeownership rate remained at 67.8% in the first quarter, down from a peak of 69.2% at the end of 2004. The housing market's five year growth is quickly becoming a faint memory, as sales and house prices have dropped dramatically over the past two years in once hot sales areas such as Nevada and California.
U.S had the biggest gain in vacancy rates among home owners, rising to 7% during January to March period from 6.5% in the fourth quarter of 2007. Vacancy rates fell in the Midwest and South, but climbed in the Northeast. The national vacancy rate, including new and existing homes, has been steadily increasing since mid 2005. The Census Bureau's report also said that the U.S. homeownership rate remained at 67.8% in the first quarter, down from a peak of 69.2% at the end of 2004. The housing market's five year growth is quickly becoming a faint memory, as sales and house prices have dropped dramatically over the past two years in once hot sales areas such as Nevada and California.
posted by Webprofits
@ 12:46 AM
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