Though luxury home buyers took a big bite out of the Big Apple last year--properties in the Plaza Hotel and condos along Central Park West sold for record prices and the city posted new highs in price per square foot and median sales price--2008 hasn't been as kind to sellers.
There is plenty of new construction, especially on the West Side and in the outer boroughs. But vacancies are on the rise. That's bad news, especially when the job market takes a pounding.
A loosening market, job losses and new construction projects adding to an already growing inventory lands New York, typically a strong market, No. 21 on our list of best cities for home sellers.
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Read about ten recession-proof home improvements you can make to your humble abode (Hint: think green).