Manhattan home prices held steady during the second quarter of 2010 but transactions were 81% higher than this time last year. There were more than 2,700 sales during the three months ended June 30, according to one report, which is average in a normal real estate market but up significantly from the 1,500 sales during the second quarter of 2009.
Manhattan housing on the rebound
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Why are existing home prices rising when sales are still so low?
Existing home sales fell in today’s report, but home prices are still up year over year, even with higher inventory and higher mortgage rates.