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Manhattan home resales rebound as sellers agree to cut prices

Wed, Apr 05, 2017 - 5:50 AM

Sellers who had been expecting sky-high prices are softening their stances as they face the cold, hard facts of possible higher mortgage rates and more listings being added to the Manhattan market.

PHOTO: REUTERS

New York

MANHATTAN home resales climbed for the first time in a year and a half as sellers agreed to lower prices in order to seal deals before inventory and interest rates rise further.

Completed purchases of previously owned homes rose 7.7 per cent in the first quarter from a...

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