Furman: Home Appreciation Up, Sales Way Down

First the good news from the latest Furman Center quarterly report: Home appreciation in Brooklyn—measured via price changes on repeated sales of the same property—was up 7.8 percent over last quarter. Then the not-so-good news: That’s still down 2.9 percent from the second quarter in 2010, and a 23.8 percent plunge from peak, which Furman defines as the fourth quarter in 2006. And, finally, the bad news: There were 1,318 sales last quarter, which represents a 40 percent year-over-year drop. Not very encouraging stuff.
New York City Quarterly Housing Update 2011: 2nd Quarter [Furman Center; PDF]
Furman: Gloomy First Quarter for NYC Housing [Brownstoner]