Alfie Rechichi, sales manager at the Katonah office of Coldwell Banker, said her 40 brokers were busy with 18 showings a day just on the firm's own listings.

WSJ: New York Area Housing Recovery: Signs the Slump May Be Over

The month at Yamaichi typically began with a sales list from head office, says Toshiyuki Suzuki, now Merrill's Nagano branch manager.

ECONOMIST: Japanese finance