Posts Tagged ‘CoreLogic’
NEW YORK — A new report this week found that home sale prices nationwide dropped for the second month in a row and were down from last year.
“Even with low interest rates, demand for houses remains muted. Home sales are down in September and the inventory of homes for sale remains elevated,” said Mark Fleming, chief economist for CoreLogic.
But not in New York.
For single-family homes in the area, which include New York City, White Plains, N.Y., and Wayne, N.J., prices actually rose 2.9 percent. Taking into account the sale of distressed sales, prices were still up 2.2 percent.
Those might not seem like great gains, but in light of negative growth, the New York market shows it is well-positioned to capitalize on a strengthening economy.
The full report is available for download from research firm CoreLogic.