The fall in housing prices in Manhattan was the strongest since 2010

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The demand for homes in Manhattan increased significantly due to the maximum rate of declining housing prices in this area of New York in almost a decade. The StreetEasy portal, which calculates the housing price index, reported that last month this figure fell by 5.2% compared to the same period last year, reaching $1.11 million, which was the lowest index value since May 2015. In April, the number of contracts concluded for the purchase of housing in Manhattan, was 1,193 contracts. This number was the most significant since April 2015. In the previous 12 months in Manhattan there has been a steady decline in home sales. Now, experts say, sales in this area have begun to recover due to lower sellers' housing prices.

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