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Brokers, Economists Rain on Spring's Green Shoots

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Many real estate brokers felt they finally had reason to rejoice when spring arrived. Apartments that were too pricey a year ago started finding buyers, with contract signings up almost 35 percent between February and March, and brokers were getting their freebies again. But all the free iPads in the city can't hide what brokers, economists, and other assorted experts rounded up by the Times say is another stall in the sales market. They predict a further 5 to 15 percent fall in prices before the end of next year, as people keep losing jobs and the market deals with about 6,500 new condos' worth of shadow inventory. The number of listings in contract and the average sale prices on signed contracts have risen since last year, according to most brokers. Still: how worried should we be?
· Spring Housing Market Roars In, but Tiptoes Out Early [NYT]
· Brokers Say Spring Selling Season Has Its Groove Back [Curbed]