Home prices are up in the US, but NYC sees weak growth

Prices only increase 0.3 percent from April to May

TRD New York /
Jul.July 26, 2016 01:52 PM

Home prices in the U.S. continued to climb in May, but New York City and other cities that thrived in the post-recession months are seeing far less growth.

Over a 12-month period ending in May, the S&P/Case-Shiller Home Price Index rose 5 percent for the entire nation, the Wall Street Journal reported. But price growth in New York City slowed from April to May, increasing by only 0.3 percent. Aside from San Francisco, which only saw a 0.1 percent jump in home prices, New York saw the smallest increase of the 20 cities surveyed by S&P Dow Jones Indices. For the year ending in May, New York only saw a 2 percent increase in home prices, the smallest increase of the 20 cities.

“When home prices began to recover, New York and Washington saw steady price growth,” David Blitzer, managing director at S&P Dow Jones, said in a statement. “Now both are among the weakest areas in the country.”

Meanwhile, the hottest markets included Portland, Ore., which saw a 12.5 percent year-over-year increase; Seattle, which experienced a 10.7 percent price increase; and Denver, which had a 9.5 percent increase. [WSJ]Kathryn Brenzel 


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...