NYU FURMAN CENTER QUARTERLY HOUSING REPORT FINDS HOME SALES DOWN IN EVERY BOROUGH, FORECLOSURES DOWN CITYWIDE BUT UP IN MANHATTAN

WASHINGTON, D.C. – March 28, 2012 – (RealEstateRama) — According to the New York City Quarterly Housing Update (Q4 2011) released by NYU’s Furman Center for Real Estate and Urban Policy, home sales volume continued to decline in the fourth quarter of 2011, with the number of transactions citywide down 15 percent from the previous quarter and 11 percent from the fourth quarter of 2010.