NYC Residential Sale Volume Skyrockets In Q2

Law360, New York (July 2, 2013, 5:53 PM EDT) -- The number of residential sales in Manhattan showed significant gains in the second quarter, increasing nearly 19 percent over the same period last year while prices increased at a slower pace, according to several market reports released Tuesday.

Inventory levels are still at record lows, but brokers somehow continue to rack up the sales, potentially as a result of pent up demand that couldn't be met amid the fiscal uncertainty at the end of last year, according to a report issued by Douglas Elliman.

The number...
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