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New York

NYC-area home prices leap 11% from January 2012

U.S. home prices jumped nearly 10 percent in January from the same moth the previous year and  New York City properties grew at even a slightly higher rate, according to a CoreLogic report released today.

The 9.7 percent nationwide figure, which included distressed sales, marked the 11th consecutive monthly increase and the biggest  since April 2006.

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From December to January, though, home prices inched up only 0.7 percent. Without distressed sales, home prices saw a 9 percent year-over-year increase and a 1.8 percent month-over-month improvement.

In the New York metropolitan area, which includes White Plains and Wayne, N.J., home prices with distressed sales factored in rose 11.1 percent year-over-year in January; in July, there was a 3.8 percent year-over-year increase.

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CorelogicHome Prices