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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 20 major metropolitan areas. We also include a trend line that shows how the index for the 20 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 trends: Whither Home Values). Our “normal” trend line starts in January 2000 and increases prices annually at 5%.

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

Will 2014 see slower home price increases?

Home prices rose 0.8% nationwide in January 2014 as measured by the Case-Shiller 20-city composite index. New York home prices rose in the same proportion, the fourteenth consecutive month of price increases. Year to year, home prices increased 6.8% in New York and 13.3% nationally. San Francisco posted the highest growth of all cities included in the index: 1.7% since the previous month and 23.1% in the past year. At 0.2%, Boston saw the lowest month-to-month price increase and Denver, at 0.4%, saw the lowest year-to-year increase.

Most analysts expect home prices to increase more moderately in 2014 than they … Read more…

Uncertainty in Housing Prices as 2013 Ends

In 2013 single -family house prices rose 6.3% in the New York region and 13.6% nationally (as measured by the 10-city composite) according to the latest figures from the Case-Shiller Home Price Index. Although the year started with prices in New York 1.7% above the national average, by December prices in New York were 4.6% lower. The rapid increase in prices nationwide in 2013 was driven by the rapid growth in metropolitan areas of the Southwest and California, particularly Las Vegas (25.5%), San Francisco (22.6%) and Los Angeles (20.3%). New York prices had not increased year over year since … Read more…

November Brings Slight Decline in NY Home Prices

The Case-Shiller Home Price Index shows that New York home prices declined by 0.4% in November 2013, while nationally the 10-city composite index declined by 0.1%. New York’s price decrease was the first since March, while the decline in the national index was the first in a year. Prices were still up 6% in New York since last year compared to an increase of 13.8% nationally. It is common for home prices to go down in the winter, as occurred in 9 of the 20 cities measured in the index.

According to the press release issued with the latest figures:… Read more…

New York Home Prices Remained Static in October

Single family home prices remained static in the New York Metro area in October 2013, ending six consecutive months of price increases according to the Case-Shiller Home Price Index. Nationwide, home prices increased only 0.2% over the previous month. Year over year increases remained strong at 13.6% nationwide, but were only 4.9% in the New York metropolitan area. Along with Cleveland, which also saw a 4.9% increase, home prices in New York increased less than in any other market included in the Index.

A number of markets with strong growth in the past year, including San Francisco and Atlanta, saw … Read more…

Home prices rise slightly in the last month of the summer

Single family home prices in the New York metro area rose by 0.6% in September, in line with a national increase of 0.7% in the last month of the summer. Nearly all cities, including New York, saw prices rise more slowly in September than in August. Over the past year, prices in New York increased 4.3%, compared to 13.3% for the 10-city composite index.

Housing markets in California, Las Vegas and Phoenix saw prices increase between 18.6% and 29.1% over the previous year, but the pace of that increase in San Diego, San Francisco and Los Angeles slowed down for … Read more…

Home prices slowly continued to rise in August

The Case-Shiller Home Price Index figures for August 2013 show home prices continued to rise nationwide although the monthly rate of increase continued to decelerate as mortgage rates went up, resulting in fewer mortgage applications. The 10-city composite index increased 12.8% over the past year, the highest increase since February of 2006, and 1.3% since July 2013. Single-family home prices in the New York metro area increased 3.6% over the past year and 1.1% since July. While New York’s year to year increase was its highest since September 2006, it was the lowest among the 20 markets measured in the Read more…