We're sure the brokerages' impending first quarter reports will paint a rosy picture of Manhattan real estate, but did anyone catch Floyd Norris's apocalyptic take on national market data? The headline: R.I.P., New Home Sales. Some sobering numbers: "The government estimates that 19,000 new single-family homes were sold during the month. That is the lowest figure for any month since the figures began to be compiled in 1963. At a seasonally adjusted annual rate, that works out to an annual pace of 250,000. That, too, is the lowest ever." [NYT]
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