file photo Boyd Loving
Home values up 2% in region, 4.6% nationwide
DECEMBER 30, 2014 LAST UPDATED: TUESDAY, DECEMBER 30, 2014, 1:42 PM
BY KATHLEEN LYNN
STAFF WRITER |
THE RECORD
Home values continued to cool off in October, with prices in the New York metropolitan area up only 2 percent from a year earlier, the Standard & Poor’s Case-Shiller index said Tuesday.
Nationally, single-family home values were up about 4.6 percent in that period, a slowdown from last year’s pace, and evidence that a full recovery from the housing crash is still out of reach. Home values in the region and the nation remain 17 to 18 percent below their peaks in mid-2006, and are at the levels seen in mid- to late-2004, Case-Shiller said.
Case-Shiller does not follow home values county by county, but New Jersey Realtors, the statewide trade group, said that single-family home values in Bergen County rose 2 percent in October from a year earlier, to a median $459,000. In Passaic County, prices were flat, at a median $295,000.
The Case-Shiller figures follow other recent housing data that David Blitzer, head of the index committee at S&P Dow Jones Indices, called “somber.”
https://www.northjersey.com/news/business/home-values-up-2-in-region-4-6-nationwide-1.1183300