AgentMarkets & Economy

NYC home values climb at close of 2015, FNC reports

NYC experiences mild growth as markets nationwide continue to increase
  • The average U.S. home price grew 6.2 percent year-over-year.
  • New York City fell toward the bottom of the list with just 4 percent year-over-year growth, but some home value appreciation in December is a positive sign for NYC homeowners and agents.
  • According to the FNC Index, NYC's pace of recovery is at 12.2 percent since 2012. Since 2007, New York City home prices have dropped 22.3 percent below peak-to-date value.
  • Since 2007, the market with the best peak-to-date home values is Denver, where home prices are actually almost 30 percent higher than they were eight and a half years ago.

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T photography / The home price report released by mortgage technology company FNC Inc. reveals home values appreciating at their most rapid pace nationwide since October 2014, but New York City is lagging behind quite a few markets. NYC property prices grew 4 percent last year, landing lower on the list of highest appreciating markets in 2015, but it was one of the few to grow in December with 0.2 percent home value growth. U.S. price gains: inclusive market is escalating The average U.S. home price grew 6.2 percent year-over-year. At the beginning of 2015, prices rose 4.7 percent year-over-year, and the increase proves 2015 was a positive growth year for the real estate market overall. Property values also grew 6 percent in the fourth quarter across the country. "Nationwide, average property value is up 28 percent since early 2012, although there is considerable variation in the pace of the recovery across the country," said housing economist and Direc...