Prudential Douglas Elliman with Miller Samuel released their 3q09 Manhattan Manhattan MArket Overview today; the other major brokerages will follow shortly with theirs.
The main message, according to the report's author Johnathan Miller:
[There was] a summer surge in the number of sales caused by a myriad of factors...sales were up 45.6% from the last quarter, although still 16% below the third quarter of 2008.... this surge in the number of sales does not appear to indicate a housing market "bottom", but rather provides some evidence that the housing market has 'turned the corner'.
Pricing doesn't really appear to be going anywhere at the moment.
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