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New York Leads Nation in Price Increases

Monday, October 26, 2015

Home prices have now increased 27 percent since hitting bottom in January 2012.  Black Knight Financial Services said today that prices nationally eked out a 0.3 percent increase in August compared to July and are up 5.5 percent from a year earlier.  The national HPI now stands at $253000, only 5.3 percent off of the peak it reached in June 2006 of $268,000.

New York posted the largest monthly increase among the states, 1.8 percent, to an HPI of $358,000.  The percentage increase in New York was more than double its nearest competitors New Hampshire and Texas, both of which were up 0.7 percent.  The Empire State also posted an annual increase of 7.1 percent and accounts for all of the top ten increases among the nation's metropolitan areas, with Utica, Glens Falls and Watertown, NY all seeing 1.9 percent appreciation while New York City was up 1.3 percent.

 

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