Housing prices on the rise in NYC

Home prices increased by $3,700 in September and continued to accelerate throughout the year, according to new data released on Thursday by the S&P CoreLogic Case-Shiller Home Price Index.

In all, prices rose at a 4.1 percent annual pace in September — an increase of 0.5 percentage points on the quarter. Overall, prices are up by 19.5 percent over the last year.

In New York City, prices actually fell 0.1 percent over the month, the first such decline since late 2015. Compared to a year ago, prices in New York have increased 12.8 percent.

“Home prices continued to increase in September, led by gains in the North and Midwest,” David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement. “Some of the strength may have resulted from the academic tax cut a month before the report, but that is not convincing enough. Home prices in Houston and Las Vegas have seen even stronger growth in recent months.”

Read more about the housing market here.

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