NEW YORK – Ouch. Low mortgage rates and a tight supply drove up the average sales price of a Manhattan apartment more than 30 per cent to over US$1,3 million in the second quarter from a year earlier, according to a quarterly real estate report released on Friday.
Mortgage rates slipped to 5,47 per cent in the last three months, the Mortgage Bankers Association said last week. The average sales price for a Manhattan apartment during the second quarter, which ended on Thursday, climbed to about US$1,32 million (N$8,8m) – up 30,4 per cent from about US$1,01 million a year ago, according to the Prudential Douglas Elliman report.- Nampa-ReutersThe average sales price for a Manhattan apartment during the second quarter, which ended on Thursday, climbed to about US$1,32 million (N$8,8m) – up 30,4 per cent from about US$1,01 million a year ago, according to the Prudential Douglas Elliman report.- Nampa-Reuters
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