The Manhattan housing market is seeing lower sale prices and a slowdown in demand, but rents in the city are still going up.
Following a national trend, the housing market in Manhattan is starting to cool, Jennifer Epstein reports for Bloomberg. In the third quarter of 2022, “The median price on transactions completed slipped 7.6% to $1.15 million from the second quarter,” according to the article.
Sales also slowed. “The number of Manhattan homes entering contract in September was down roughly 32% from a year earlier, the sixth consecutive month of year-over-year decreases.”
Manhattan rents, meanwhile, remain stubbornly on the rise, with median rent for a two-bedroom in reaching $3,804 in August, a growth of more than 25 percent since August 2019.
FULL STORY: Manhattan’s Housing Market Is Starting to Cool With Sales Stalling
Understanding NYC’s Rental Income Requirements
Why are most renters required to earn 40 times their rent in annual income?
High Housing Costs Top of Mind for Voters
More and more Americans fear they won’t be able to afford housing.
Understanding Average Versus Median Rent
The disparity between these commonly used terms can give vastly different outlooks on the housing market.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
USGS Water Science Centers Targeted for Closure
If their work is suspended, states could lose a valuable resource for monitoring, understanding, and managing water resources.
Congress Moves to End Reconnecting Communities and Related Grants
The House Transportation and Infrastructure Committee moved to rescind funding for the Neighborhood Equity and Access program, which funds highway removals, freeway caps, transit projects, pedestrian infrastructure, and more.
Portland Council Tentatively Approves Sidewalk Repair Plan
The proposal would address sidewalk needs in Portland’s District 1 and District 4.
Expanding Access to Design Education at Honolulu Community College
Honolulu Community College’s Architecture, Engineering & Construction Technologies program highlights the role of community colleges in preparing nontraditional students for careers in architectural and construction technologies.
Integrating Human Rights Into Energy and Extractive Sector Transitions
Why just transition efforts must move beyond economic considerations by embedding human rights principles into business practices to ensure equitable, transparent, and accountable outcomes for affected communities and workers.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Moorpark
City of Tustin
Tyler Technologies
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions