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
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Understanding Average Versus Median Rent
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Planetizen Federal Action Tracker
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Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
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Wildlife Rebounds After the Eaton Fire
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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
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Central Transportation Planning Staff/Boston Region MPO
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions