- Inventory of homes for sale increased by 0.4 percent in comparison to April 2015.
- The average days on the market for a home stood at 64 days.
- Inventory in the 53 metros surveyed are still 11.7 percent below the level of one year ago.
The Chinese restaurant across the street from me -- one of the last reasonably priced joints in the neighborhood -- closed last weekend. Their lease was up for renewal and the rent increased from $5,000 a month to $25,000.
Such an enormous jump isn't unusual here in the West Village, part of Greenwich Village in lower Manhattan, which has become such an expensive and trendy part of the city that I may soon be kicked out both for violating the fashion code and skewing the curve on median income.