According to new Douglas Elliman data, the Manhattan condo and co-op markets were sluggish this January, both down by half from what they were a year prior.
new Douglas Elliman and Miller Samuel data
Why the sudden slowdown? The report’s author, appraiser Jonathan Miller, points to a supply shortage and the bummer economic climate surrounding increased interest rates to combat lingering inflation. Unfortunately for buyers, the numbers do not point to more bargains in the near future.
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