Greater New York home prices stay flat

TRD New York /
Jul.July 13, 2010 03:45 PM

CoreLogic economist Mark Fleming

The Greater New York metro region’s home prices stayed relatively flat year-over-year in May, according to real estate tracking firm CoreLogic. The region, which includes New York City, White Plains and Wayne, N.J., according to CoreLogic, saw its average home price drop just .1 percent in May, compared to the same month a year earlier. Meanwhile, nationwide home prices saw a 2.9 percent year-over-year increase on the index, marking the fourth consecutive month of yearly home price growth. But this data does not necessarily indicate that the housing market is out of the woods, according to Mark Fleming, chief economist with CoreLogic. Fleming said that the first-time homebuyer tax credit, which required contracts to be signed by the end of April, was the likely culprit behind the late Spring sales boost. “Given that the labor market and income growth remain tepid, we expect prices to moderate and possibly decline the rest of the year,” Fleming said. TRD

 

Related Articles

arrow_forward_ios
Single-family saves the day. Q3 resi sales up in South Florida

Single-family saves the day. Q3 resi sales up in South Florida

Single-family saves the day. Q3 resi sales up in South Florida
StreetEasy has launched a new tool offering users a private estimate of their home value. (iStock)

StreetEasy launches automated home-valuation tool

StreetEasy launches automated home-valuation tool
Home sales plunged across South Florida in Q2

Home sales plunged across South Florida in Q2

Home sales plunged across South Florida in Q2
(iStock)

Here’s where resi prices fell the most in Miami in Q2

Here’s where resi prices fell the most in Miami in Q2
Clockwise from right: Hong Kong; Columbo, Sri Lanka; and Zagreb, Croatia (Credit: Wikipedia, iStock)

The best real estate markets on earth over the last decade

The best real estate markets on earth over the last decade
Home buyers have for decades been advised to never put a less than 20 percent down payment on a house, but 70% of young home-buyers are willing to break that rule this year (Credit: iStock)

Millennials are ready to break the golden rule of home-buying

Millennials are ready to break the golden rule of home-buying
Keeping lawns freshly cut and outdoor spaces in tip-top shape could result in greater rewards for sellers. (Credit: iStock, IMDB)

Curb your enthusiasm: Homes with spruced-up outsides sell at premium

Curb your enthusiasm: Homes with spruced-up outsides sell at premium
Seattle, Washington (Credit: iStock)

Good luck buying an affordable home in these US cities

Good luck buying an affordable home in these US cities
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...