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.
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.