NY Leads the Nation to Rising Home Prices
New York led a second consecutive month of U.S. housing price gains, according to the May Housing Price Index released by CoreLogic and reported by Adam Fusfeld in The Real Deal
Nationwide home prices rose slightly in May compared to April, but remained far below their levels a year ago. Including distressed sales, prices rose 0.8 percent compared to April, but were stuck at 7.4 percent less than May 2010.
Excluding distressed sales, the year-over-year decline was just 0.4 percent. New York showed the strongest gain of any state in the country, as home prices rose 4.4 percent in May compared to 2010, and excluding distressed sales the increase was 6.1 percent. The New York-metro area also performed better than any other large urban area in the country over the last 12 months, as its 3 percent gain in housing prices was the only positive change in the country.
In Manhattan according to second quarter market reports just released the market contnues to stabilize.
Nationwide home prices rose slightly in May compared to April, but remained far below their levels a year ago. Including distressed sales, prices rose 0.8 percent compared to April, but were stuck at 7.4 percent less than May 2010.
Excluding distressed sales, the year-over-year decline was just 0.4 percent. New York showed the strongest gain of any state in the country, as home prices rose 4.4 percent in May compared to 2010, and excluding distressed sales the increase was 6.1 percent. The New York-metro area also performed better than any other large urban area in the country over the last 12 months, as its 3 percent gain in housing prices was the only positive change in the country.
In Manhattan according to second quarter market reports just released the market contnues to stabilize.
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