Real Estate: Brooklyn home prices tumbled 5.6%

Brooklyn Home Prices Drop as Banks Cut Jobs and Curb Lending. “Real estate appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate: Brooklyn home prices tumbled 5.6% in Q3 as Wall Street job losses reduced demand for real estate in the New York borough across the East River from lower Manhattan. The median sale price for a home in Brooklyn fell to $510,000 from $540,000 a year earlier. The number of sales tumbled 38% to 2,298.”