Report: Apartment sales prices slip in October

Just as the word “bubble” became synonymous with the New York housing market when prices kept going up, “cooling” seems to be the mot du jour for the market now as prices continue to slip gradually. The latest Halstead Property monthly residential market report has the median and average apartment prices for Manhattan falling 4.2 percent and 8.4 percent, respectively, in October and by double-digit percentages since June. While these numbers don’t signify a market freefall, they do call for the adjectival use of “cooling” yet again. more [Post]