New York a “bright spot” in slow spring for US housing market

Connecticut's Fairfield County also showing strong numbers

New York /
Apr.April 17, 2014 02:25 PM

The U.S. housing market has been slowing down in the early days of spring, worrying real estate analysts who projected that warmer weather would bring an upswing of growth. New York, as well as Baltimore and Fairfield County in Connecticut, is in the minority.

The Southwest and the West had been at the forefront of the recovery trend, until recently. Las Vegas, San Diego, Phoenix and other markets that were quick to rebound after the recession saw year-over-year drops in March for property sales. Pending home sales in the U.S. fell 11 percent year-over-year. Now the Northeast and the mid-Atlantic are gaining ground in recent months.

“Markets in the West were skewed by the ramp up in distressed sales last year and now they’re cooling, whereas the Northeast didn’t have that so now we’re looking better,” Jonathan Miller of Miller Samuel Told The Wall Street Journal. [WSJ]Mark Maurer


Related Articles

arrow_forward_ios
(iStock)

Manhattan home sales improving as suburban hot streak continues

Manhattan home sales improving as suburban hot streak continues
(Getty)

Brooklyn home sales fell at a record rate in Q3

Brooklyn home sales fell at a record rate in Q3
The vacancy rate hit 5.75 percent (iStock)

Rental listings in Manhattan hit 14-year high as vacancies soar

Rental listings in Manhattan hit 14-year high as vacancies soar
(iStock)

Manhattan apartment vacancy smashes 5% barrier

Manhattan apartment vacancy smashes 5% barrier
(iStock)

Suburban housing market surged in August while Manhattan trailed

Suburban housing market surged in August while Manhattan trailed
(iStock)

Brooklyn and Queens Q2 sales fall at highest rate in decade

Brooklyn and Queens Q2 sales fall at highest rate in decade
Rent prices are going up while new leases are down

Manhattan, Brooklyn and Queens saw record low leasing activity in March

Manhattan, Brooklyn and Queens saw record low leasing activity in March
Presidential elections affect the residential sales market significantly (Credit: Getty Images, The White House)

This is how presidential elections really affect home sales

This is how presidential elections really affect home sales
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...