quick hit: WSJ finds Manhattan real estate market “healing” in Second Quarter

Barbanel weighs in
My post this morning (for real: Second Quarter Manhattan real estate market report numbers out) chewed on (and chewed over) the NY Times article today by Vivia Toy about the major firms’ reports on coop and condo sales in Manhattan in the Second Quarter. I made a note at the end to check out the (increasingly delightful!) competition between the Times and the Wall Street Journal’s new emphasis on local Manhattan news. In this morning’s Journal article, Manhattan Apartment Market Healing, Josh Barbanel does not disappoint.

Barbanel has the advantage over Toy in that he is not tied to a legacy template and has clearly been told to look for ways to do things differently. On first impressions, at least, I prefer his take on the Second Quarter reports to that of Toy in the Times.

is it the short paragraphs?
Probably what I like best about the Journal view of the reports is that the "however …" point is much closer to the top, in the fifth of five very short paragraphs (my bold):

The solid sales and modest increase in prices in most apartment categories led some analysts to suggest that New York market was beginning to heal, despite uncertainty about the overall direction of the economy in the months ahead.

I really like this important bit of context about average price data (my bold):

Average prices have been rising over the past few quarters, but the gains were attributed to a change in the mix of apartments that sold, in particular to a surge in the sales of the larger more expensive apartments hardest hit during the recession.
All in all, Barbanel seems to me more fresh … perhaps because I am so used to (tired of?) the NY Times template.

Again, real "analysis" of numbers will follow.

© Sandy Mattingly 2010

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