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Home price growth in NYC, North Jersey lags rest of U.S.

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By Erin O’Neill | NJ Advance Media for
on September 27, 2016 at 5:35 PM, updated September 27, 2016 at 6:03 PM

Home prices in the New York area ticked up slightly over the last year but increased at a slower rate than 19 other major metropolitan markets in the country, according to a new report released on Tuesday.

The S&P CoreLogic Case-Shiller 20-City Composite index notched a 5 percent year-over-year increase in July led by big gains in real estate values in the Pacific Northwest, specifically Portland and Seattle. The New York region, including northern New Jersey, saw home prices rise just 1.7 percent over that same time frame, the weakest growth among all of the cities included in that index.

The Washington, D.C., area’s rise in home prices was the second-worst at 2 percent year-over-year.