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CHPC New York

Home Price Index

sinking house

View latest chart

We are continuously tracking the S&P Case-Shiller Home Price Index, which examines the rise and fall of single family home prices in 20 major metropolitan areas of the United States and have designed our own chart to offer a useful analysis of the data as soon as it is released each month.

The chart is designed to track single family home prices in the New York City area, Las Vegas, Los Angeles and the Case Shiller Index of the 10 major metropolitan areas. We also include a trend line that shows how the index for the 10 major metro areas would have changed if home prices had appreciated at the historically expected 5% (See this Freddie Mac analysis of long term home price trendsWhither Home Values) . Our “normal” trend line starts at January 1993 and increases prices annually at 5%.

You can read details of the elements of the index here.

NYC Up, but Still Behind National

After three months of continued decline, New York City bounced back in January in non-seasonally adjusted number. However, New York City continues to lag the national increase in home sale prices. The national 10 city index increased for 1% as compared to NYC’s 0.6% in seasonally adjusted numbers in January 2013. To end with a positive note, for the one year, year over year changes, NYC sees the first increase since August 2010 in non-seasonally adjusted number.

Read more…

NYC Behind National Increase

New York City continues to lag the national increase in home sale prices. While the NYC metro area posted its first positive seasonally adjusted increase in three months, the non seasonally adjusted numbers show continuing decline. The nation as a whole is much more positive with the national 10 city index showing an increase of  0.9% to NYC’s 0.2%. For the one year, year over year changes NYC is still the only metro area in the US showing a decline.

 

Read more…

Blame Sandy?

Case Shiller shows another jump up for the country and more disappointing results for the New York Metro area. The seasonally adjusted numbers show a 0.6% increase in the 10 city index for the period from October to November 2012 and a -0.3% decline for New York. While other metro areas including Chicago, Boston and Atlanta showed declines for the October to November period, only New York showed a year over year decrease of -1.2%. Perhaps we can blame Sandy for reducing sales in November.

 … Read more…

Case Shiller Up Nationally – NYC Metro Down

While the Case Shiller Index of small homes continues to show a recovery pretty much across the country, the New York metro area shows a much more sluggish picture. From September 2012 to October 2012 the Index for the NYC Metro area declined by -0.4 % for the non-seasonally adjusted index compared to a decline of -0.1% for the 10 metro area index. Worse, we see a -1.3% decline from October 2011 where the 10 metro area index shows a 3.4% increase for the same period.

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Case Shiller Up Again, Though NY Metro Dips

Nationally the seasonally adjusted Case Shiller Index has shown its eighth consecutive monthly gain, rising 0.3% from August 2012 to September 2012. The not so good news is that the New York metro area showed a -0.1% decline for the same period and is still -2.3% below its standing of 12 months ago.

Read more…

More Good News on the Housing Market

The August 2012 Case Shiller report has more good news, though not for the New York City metro area. The national seasonally adjusted 20 city index rose .5% over July and 2.0% over August 2011. That’s five months of consecutive improvement. However the New York metro area was a 0% gain over July on the seasonally adjusted index. The non adjusted index, which we use for our chart, showed a 0.7% gain. Year over year, NY was down -2.3% on the seasonally adjusted index. Still the overall trend seems to be upward.

Read more…