a market in transition
More sellers are putting their homes on the market, houses are selling less quickly and prices are no longer increasing as rapidly as they were in the spring, according to local data and interviews with brokers.David Leonhardt Motoko Rich/NYTimes 04.10.05
In Manhattan, the average sales price fell almost 13 percent in the third quarter from the second quarter, according to a widely followed report to be released today by Miller Samuel, an appraisal firm, and Prudential Douglas Elliman, a real estate firm. The amount of time it took to sell a home was also up 30.4 percent over the same period.
In another sign that the housing market might have reached a peak, executives at big home builders have sold almost $1 billion worth of company stock this year.
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