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New York

NYC home prices down, other areas up

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Housing prices in the New York metropolitan area declined between April and May, according to the May housing market report from Radar Logic. Home prices in the region dropped 1.7 percent between April and May and 17.1 percent year-over-year. The New York metropolitan area was one of only three of the 25 surveyed in the report to show month-over-month home price declines. New York is still seeing the decline of the financial services industry impact home prices, while other areas are starting to recover, the report said. Second-quarter market reports from several brokerages showed Manhattan home sales down a record 50 percent. TRD

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