Activity increases in residential market


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Lisa Wiener Koenig, a vice president at Halstead Property, told Nightly Business Report on PBS that she has seen an increase in people looking at homes to buy in Manhattan, or to just get a sense of what prices are, which was not the case three months ago. Jonathan Miller, president and CEO of appraisal firm Miller Samuel, said there has been a price correction of 25 percent for all Manhattan homes, and prices could fall another 15 percent. Miller said it might take three or four more years to recover because New York’s market was the last affected, and will be the last to bounce back.