The Real Deal New York

From the August issue: July was hot, and buyers were not bothered – at least when it came to buying Manhattan real estate. Open house attendance was down, beyond the usual summer ebb, and price adjustments were more frequent — both indicators of a weakened housing market. Richard Rothbloom, a vice president at Brown Harris Stevens, said that his sales open house attendance last month was “hit or miss.” Stefani Pace, an associate broker at Prudential Douglas Elliman, said that appropriately priced units are garnering heavy traffic at sales open houses, but if they are even “just a little overpriced,” attendance drops off.