A few days have passed in 2007, and there are a few stories I think are worth a look. Enjoy!
- Manhattan real estate market remains strong
The Manhattan Market is INCREDIBLE! “The average price of a Manhattan apartment rose to more than $1.14 million in the fourth quarter of last year, up 5 percent compared to the same period the year before, according to two reports released Wednesday.” In addition, “The average price per square foot in Manhattan rose to $1,050, topping $979 in the fourth quarter a year ago and setting a new high.” WOW! - Construction activity dips as housing falls for record eighth straight month
“Housing has been in a slump this year after a prolonged boom that was fueled by the lowest mortgage rates in more than four decades. However, that boom triggered increased speculation, driving home prices up sharply in many parts of the country.” - 2007 Predicted to be Poor Real Estate Year in California.
- Subprime Lender Implosion: Bad Omen For Housing Market
- Foreclosures Skyrocket in 2006 according to Default Research. This is nothing new, but there are a few things in the report that are worth reading.
- “The Beginning Of The Domino” In California
A look at how the California market is begging to topple (compiled from various news sources).
Related posts:
- Real Estate Dispatch – Christmas Eve Edition – 12/24/06
- Real Estate Dispatch – 12/19/06
- Real Estate Dispatch – 12/10/06
- Real Estate Dispatch – 12/1/06
- Real Estate Dispatch – November 28, 2006
Got questions about this or other real estate topics? Ask on the BiggerPockets Forums.
Article Author: Joshua DorkinJoshua has written 568 articles for us.
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Joshua Dorkin (@jrdorkin, Google+) is the founder and CEO of BiggerPockets.Mr. Dorkin's vision for BiggerPockets has helped to propel it into becoming one of the top real estate destinations online. His vision for the site and its future has brought national press attention to both Mr. Dorkin and to BiggerPockets.
Joshua Dorkin
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Just wanted to add that the housing price index published by the Office of Federal Housing Enterprise Oversight for the New York Greater area shows that housing prices in 2006 increased by 6.1% and by 0.7% in the 4th quarter of 2006 (an indication of a slowdown in price growth rate towards the end of the year).