NYC Home Sales Bounce 18%

If it can happen there, can it happen anywhere? The New York City housing market improved sales by 18 percent in the third quarter of 2010, according to ResidentialNYC.com, a site run by the Real Estate Board of New York. The latest report supports other recent surveys confirming the surge. Of the five boroughs, Manhattan performed best, with a 25 percent increase in home sales. A surge in condo sales all over the city was cited as the main driver for the growth. Other factors include low interest rates and an improving mood toward the economy. Fourth quarter sales tend to slow due to winter weather and the holidays, but a little market stability goes a long way. Perhaps the rest of the country will catch the bug.