The real estate industry has been in a tailspinch for months, with a series of sales declines, new regulations and a sharp increase in the number of homes being sold for less than the market value.
The latest statistics released on Thursday showed the New York market lost 0.7 per cent in value over the last six months.
That was below expectations of a 1.5 per cent decline.
There were 5,049 new listings in New York City last month, a decrease of 5,938 over the same period last year.
New York’s housing market has been on a steep decline in recent years, with median sales prices falling by 22 per cent since 2015.