Local real estate agents have said home sales are increasing and there are plenty of anecdotes telling the story, but now the nationally-recognized S&P/Case-Shiller indices confirm that home prices are up roughly 12 percent in May 2013.
The report, released Tuesday morning, said increases of 2.5 and 2.4 percent for the 10- and 20-city tables increased in May over the month of April. Dallas and Denver reached “record levels surpassing their pre-financial crisis peaks set in June 2007 and August 2006.” This, says S&P/Case-Shiller, “is the first time any city has made a new all-time high.”
“Home prices continue to strengthen,” says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. “Two cities set new highs, surpassing their pre-crisis levels and five cities – Atlanta, Chicago, San Diego, San Francisco and Seattle – posted monthly gains of over three percent, also a first time event. ”
“The Southwest and the West saw the strongest year-over-year gains as San Francisco home prices rose 24.5 percent followed by Las Vegas and Phoenix . New York, Cleveland and Washington, D.C. were the weakest.”
In July we reported that home sales had jumped “significantly” in the Lower Hudson Valley as the region continued to emerge from the economic downturn, based on a report from the Hudson Gateway Association of Realtors, a four-county group.
The sales volume for April, May and June of this year in the Lower Hudson Valley represented a 24 percent increase from the same period in 2012 and said the HGAR “was the highest second quarter posting since 2010.”
Within the region realtors have said that the Rivertowns, White Plains, Scarsdale and Bronxville are particularly seeing good sales numbers as are communities in Carmel-Mahopac and Nyack in Putnam and Rockland counties respectively.
( J. Philip Real Estate in Briarcliff Manor sold this home in Yorktown quickly and with multiple offers. Photos by Ricky Flores/The Journal News.)