Under $1M sales to pick up first, Miller says

The Bloomberg Surveillance podcast yesterday featured appraiser Jonathan Miller, president of Miller Samuel, discussing the New York City residential real estate market. Miller said he expects activity to pick up for homes under $1 million first. Podcast hosts Ken Prewitt and Tom Keene also asked Miller about the differences between the condo and co-op markets today. Miller said he thinks co-ops will see fewer foreclosures because co-op boards are stricter about admitting prospective buyers in the first place.