Rising Prices Forecast For NYC Housing In 2013

Law360, New York (January 4, 2013, 8:16 PM EST) -- Home sales in New York City saw a steep spike in the fourth quarter of 2012, and inventory dropped to a 10-year low, according to a recent report from Douglas Elliman, leading real estate attorneys to predict the return of a “seller’s market” in 2013.

The market boasts more buyers than it has for years, particularly in the luxury residential sector, for a mix of reasons including low interest rates and a reliance on New York real estate as a “safe haven” for investments, experts say....
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