NYC Weakness in October

From the NY Post - Annoying registration required for the entire article.

"November 10, 2005 -- Has the Manhattan residential real-estate bubble finally burst?

Apartment prices continued a downward trajectory in October on the heels of a disappointing third-quarter report, according to the latest monthly figures by Halstead Property.

Median and average apartment prices fell 4.2 percent and 8.4 percent, respectively, from the end of September, and a whopping 15.9 percent and 18.3 percent since June, says the report. It attributes the continuing downswing primarily to "a lack of closed sales at the high end of the market [that] kept the average sale price down in October..."

Article here...