…The Manhattan housing market continued to
be characterized by falling inventory across the
re-sale and new development markets and an
uptick in sales. Most of the price indicators in
this report continue to range from demonstrating
stability to modest growth. The market appears
poised for some level of price appreciation in
2013, considering historically low mortgage rates
that drive sales, coupled with a chronic shortage
of active listings, which are at their lowest level in
more than 12 years…