This chart above show the activity from Jun 07 to Jun 09 for the Long Island area including Queens, Nassau & Suffolk.
The real estate sale picked up for 4 consecutive months since it hit a low in Feb. I feel it is just the seasonal cycle; usually sale picked up in about Mar to Aug, then lagged through Sept to Feb.
The stock market went up since March too. I am afraid if the real estate sale figure will decrease for few consecutive months later this year (which is normal for yearly cycle), it will shift the sentiment in this fragile market and draped down the stock and real estate further.
The chart below show the median price. The price showed some stability
