The market keeps showing its good health and more specifically at its two opposite ends: the entry level segment and the luxury segment.
The statistics are clear. According to Miller Samuel appraisal firm, the market share of studios and one bedrooms sold rose from 51% in the third quarter of 2010 to 55% in the third quarter of 2012. At the same time, three (or more) bedrooms sales went up from a share of 13% to 15%.
That means that two bedrooms sales volume declined from 37% to 29%.
The decreasing affordability of Manhattan rentals, coupled with the fact that entry level buyers are usually the first to respond to falling interest rates, is pushing renters to become buyers.
At the upper end of the market, international investors help selling out NYC most sought after luxury dwellings.

Commercial Loans: Local Banks vs Big Banks
Since the downturn of 2008-2009, the landscape of the lending industry in New York City changed.
Local lenders have been consistently gaining market share. For example Investors Bank, based in New Jersey, had its strongest month to date in June 2012 when it produced its largest loan volume. The bank’s commercial loan portfolio has grown from $700 million in 2008 to today’s $3 billion.
According to Real Capital Analytics, regional banks market share has gone from 6% in 2007 to today’s estimated 19%.
This makes a lot of sense to me. In tough times a few years ago, local players were able to capitalize on their deeper knowledge of the local market and its complexities. Also the closer relationship with their clients compared to their large counterparts puts them at an advantage in building long term relationships with owners and developers.
On the other end, several sources agree that larger banks are getting bolder again and lending aggressively. Chase is an example (especially as a consequence of the 2008 acquisition of Washington Mutual).