NYU Furman Center Quarterly Housing Report Finds Home Sales and Prices Up, Foreclosures Down Overall But Up in Queens and Staten Island
Report by Meghan Lewit
July 17, 2012
Furman Center for Real Estate and Urban Policy (New York)
July 17, 2012—According to the New York City Quarterly Housing Update (Q1 2012) released by NYU’s Furman Center for Real Estate and Urban Policy, home sales volume rose in the first quarter of 2012, with the number of transactions citywide up almost five percent. In Staten Island, home sales increased by more than 43 percent from the previous quarter, although transactions in the borough are down nearly 20 percent from the first quarter of 2011.
“We saw an increase in home sales citywide in the first quarter of the year following a period of decline,” noted Ingrid Gould Ellen, co‐director of the Furman Center for Real Estate and Urban Policy. “Yet, sales volume and property values remain well below their peak levels.”