http://www.hmsassociates.net/

The real estate appraisal firm HMS Associates reports that sales volume dropped one-third in 2008 "with no signs of picking up in the coming months." Per the firm's founder: "We are now seeing a very pronounced continuation of the trend from the third quarter of 2008, with more inventory sitting on the market and not moving." For the fourth quarter, the number of Brooklyn properties sold fell 57 percent to 532 properties, down from 1,250 in the fourth quarter of 2007.