Manhattan home sales plunge to the slowest pace since 2009 as buyers fight for bigger discounts

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• The pace of condo and co-op sales in Manhattan slowed in the first quarter to an almost nine-year low, according to the real-estate appraiser Miller Samuel and Douglas Elliman Real Estate.
• Buyers got more aggressive about negotiating discounts amid rising mortgage rates and uncertainty about the new tax law's effects.

Manhattan home sales slowed to the lowest levels in nearly a decade last quarter as buyers more forcefully negotiated discounts.

In the first quarter, condo and co-op sales fell by 25%, the most since the second quarter of 2009, according to data compiled by the real-estate appraiser Miller Samuel and Douglas Elliman Real Estate. The total number of sales, at 2,180, was the lowest in more than six years.See the rest of the story at Business Insider

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