Housing prices rise in NYC area even as they fall nationwide

TRD New York /
Nov.November 08, 2011 01:45 PM
alternate
text
Source: CoreLogic

National housing prices declined on both a month-over-month and year-over-year basis in September, according to the Housing Market Index released yesterday by CoreLogic, but the news was far better for the New York City area.

The New York-White Plains-Wayne, N.J. market experienced a 2.2 percent increase in single-family housing prices between September 2010 and September 2011, taking into account distressed sales. Excluding those sales, the year-over-year increase was 2.9 percent.

That compares favorably to the grim nationwide data, which shows September housing prices declined by 4.1 percent from a year ago including distressed sales, and 1.1 percent without them. The month-over-month decline was 1.1 percent, including distressed sales.

For the New York area, it’s the second consecutive month of 2 to 3 percent gains in prices both including and excluding distressed sales. Of the 10 largest metro markets, only Washington, D.C., where housing prices rose 1 percent, also had a year-over-year price increase. New York was also the sixth-best performing state, according to CoreLogic, as the price increase for single-family homes was 2.4 percent. West Virginia was tops with a 7 percent increase. — Adam Fusfeld


Related Articles

arrow_forward_ios
(iStock)

Pandemic slammed brakes on nearly half of would-be homebuyers: Survey

Pandemic slammed brakes on nearly half of would-be homebuyers: Survey
The final week of June saw the average loan size hit $360,300, a record high in the history of MBA’s purchase index (iStock)

Size of home purchase loans hits record high

Size of home purchase loans hits record high
(iStock)

Home loans are getting bigger, even as application volume drops

Home loans are getting bigger, even as application volume drops
(iStock)

Party’s over? Applications for homes loans fall

Party’s over? Applications for homes loans fall
Housing construction hasn’t recovered to pre-pandemic levels yet, but more permits were issued last month than expected. (Credit: iStock)

Housing starts are still low, but jump in permits suggest builders are planning

Housing starts are still low, but jump in permits suggest builders are planning
Mortgage Banker Association’s weekly index shows another increase in purchase applications for home loans during the second week of June 2020 (iStock)

Mortgage applications to buy homes hit 11-year high

Mortgage applications to buy homes hit 11-year high
The pandemic has brought a silver lining for Lennar

The pandemic has brought a silver lining for Lennar

The pandemic has brought a silver lining for Lennar
Federal Reserve Chairman Jerome Powell (Getty, iStock)

Real estate stocks outperform broader market but still sink

Real estate stocks outperform broader market but still sink
arrow_forward_ios

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

Loading...