Manhattan home resales drop as tax overhaul sidelines buyers

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In Manhattan, New York, and Lake County, Illinois, the difference could be a 10% decline. Here are a few forces that could drive down home prices: 1. Lower mortgage interest deduction could keep.

Manhattan home resales tumble as US tax overhaul sidelines buyers wed, Jan 03, 2018 – 1:37 PM [NEW YORK] Manhattan home resales fell in the fourth quarter as buyers wavered ahead of the expected tax overhaul and stood firm in their refusal to overpay.

Manhattan Home Resales Tumble as Trump Tax Overhaul Sidelines Buyers. Buyers who did commit to a purchase held out for the best deal. More than 88 percent of homes that changed hands in the quarter did so at or below the asking price, the firms said. Resellers offered discounts of 5.7 percent on average, compared with 4.5 percent a year earlier. The median price for resales was $916,425, up 1.8 percent.

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Sales of the outgoing leaf model were off sharply in the first quarter as buyers waited on the sidelines for the 2018 model to hit showrooms.

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