NYC area sees home prices increase: CoreLogic

Home prices nationwide, as well as those in the New York City area, have increased, according to data released today by CoreLogic.

On a nationwide basis, home prices, which include distressed sales, increased year-over-year in July by 3.8 percent. This marks the biggest year-over-year increase since August 2006. Month-over-month, also including distressed sales, U.S. home prices climbed 1.3 percent, making it the fifth consecutive home-price increase both year-over-year and month-over-month.

In the New York-White Plains-Wayne, NY-NJ region, home prices saw a 3.4 percent year-over-year increase in July, which also included distressed sales; month-over-month, prices went up 3 percent. Excluding distressed sales, prices saw a 3.1 percent year-over-year uptick. New York state as a whole had a 5.4 percent year-over-year increase in home prices including distressed sales. Excluding them, prices went up 5.2 percent in the 12 months ending in July.

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As The Real Deal reported last week, New York posted a 2.1 percent increase in prices in June over May, according to S&P/Case-Shiller data.

Both including and excluding distressed sales, Arizona saw the highest appreciation year-over-year — 16.6 percent and 11.3 percent, respectively. In fact, the Phoenix-Mesa-Glendale area saw a 19.9 percent year-over-year jump including distressed properties and a 14.9 percent year-over-year climb excluding them.

For the same categories, Delaware saw the greatest depreciation: 4.8 percent including distressed sales and 3.5 percent excluding them. — Zachary Kussin

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