Even When Housing Prices Across The Country Fall, NYC Sees Gain

New York City was one of only two large metro markets to see an increase in housing prices over the past year, according to The Real Deal.

In fact, as the rest of the country experienced both month-over-month and year-over-year declines, the New York City area saw a 2.2 per cent increase in single-family housing prices over the past year (September 2010-11).

And if you exclude distressed sales — houses sold quickly, often at a loss — the NYC increase was 2.9 per cent. Washington, D.C. was the only other metro market with an increase in the same time span.

Meanwhile, housing prices across the country fell by 4.1 per cent from a year ago, and the majority of those losses came from distressed sales.

This is New York City’s second straight month of an increase between two and three per cent. Overall, New York is the sixth-best performing state in the country.

See the chart below for more information:

corelogic HPI housing

Photo: Core Logic

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