Markets & Economy

Real estate market recap, June 29-July 2

The big news in real estate markets, recapped for your convenience

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

StreetEasy's condo price index showed: The value of condos sold in Manhattan during May was 11.6 percent above the market’s previous peak in September 2007. With only 3,778 units on the market, May 2015 offered the lowest number of available condo units recorded during any May month spanning the last five years. Total inventory declined 2.8 percent from April and was down 7.4 percent from May of last year. Moody's building materials report showed: Housing starts will total 1.15 million in 2015 and 1.25 million in 2016. In May, total housing starts were up 5.1 percent -- and total permits rose 26.7 percent -- when compared to the same period last year. Both lumber and plywood dipped by 3.7 percent during the past 12 months, while the cost of insulation dropped by 2 percent. The Office of the Comptroller of the Currency's mortgage report showed: 94.2 percent of mortgages current and performing. This equates to a 1.1 percent increase in performance...