NYC housing prices relatively flat in January

TRD New York /
Mar.March 29, 2011 11:17 AM
alternate text

New York City-area home prices remained relatively flat in January, according to the S&P/Case-Shiller Home Price Index, released today. The report, which does not take condominium or co-op units into account, shows a 0.9 percent drop in home prices month-over-month (see full report below). Prices are down 3 percent from the same time period a year ago. This performance is in line with the overall momentum in the housing market nationwide. The index’s 20-city composite dropped 1 percent month-over-month and declined 3.1 percent from January 2010. David Blitzer, chairman of S&P’s Index Committee, said that the data show a protracted real estate slump. “The housing market recession is not yet over, and none of the statistics are indicating any form of sustained recovery,” Blitzer said. “At most, we have seen all statistics bounce along their troughs; at worst, the feared double-dip recession may be materializing.” TRD

S&P Report


Related Articles

arrow_forward_ios
Jerome Powell and New York City construction in October 2019 (Credit: Getty Images)

The Fed lowers rates, and once again real estate is loving it

Housing and Urban Development Secretary Ben Carson (Credit: Getty Images, iStock)

HUD wants to jumpstart bank lending on low-income homes

Lenders issued the most mortgages in 14 years last quarter (Credit: iStock)

Nonbank lenders could give serious boost to cooling housing market

Ben Carson on Opportunity Zones, unity and red and black ants: TRD Miami Showcase & Forum

Ben Carson on Opportunity Zones, unity and red and black ants: TRD Miami Showcase & Forum

Home foreclosures dropped nearly 20% in Q3, report shows

Home foreclosures dropped nearly 20% in Q3, report shows

Lennar reports 13% uptick in Q3 profit amid sluggish housing market

Lennar reports 13% uptick in Q3 profit amid sluggish housing market

Miami will see a big dip in home prices during the next recession, according to reports (Credit: iStock)

Miami among most at-risk cities for falling home prices during next recession: report

Homebuilding shares are close to their highest levels of the year thanks to low mortgage rates (Credit: iStock)

Low mortgage rates boost homebuilding stocks despite recession anxiety

arrow_forward_ios