New York-Jersey City-White Plains Home Prices Up 5.3% Year Over Year in November, According to First American Data & Analytics Monthly Home Price Index Report
First American Data & Analytics released its November 2024 Home Price Index (HPI) report, showing that New York-Jersey City-White Plains home prices increased by 5.3% year-over-year, while declining 0.2% month-over-month. The national HPI showed a 3.9% year-over-year increase and a slight 0.01% monthly decrease.
In the New York metro area, price growth varied across market segments: starter homes rose 7.9%, mid-tier properties increased 8.2%, and luxury homes gained 2.3%. Chief Economist Mark Fleming noted that despite higher mortgage rates, house prices have remained resilient, with only two markets showing year-over-year declines: Tampa (-3.3%) and Oakland (-0.3%).
First American Data & Analytics ha pubblicato il rapporto sul Home Price Index (HPI) di novembre 2024, mostrando che i prezzi delle abitazioni a New York-Jersey City-White Plains sono aumentati del 5.3% rispetto all'anno precedente, mentre sono diminuiti dello 0.2% rispetto al mese precedente. L'HPI nazionale ha registrato un aumento del 3.9% anno su anno e una leggera diminuzione dello 0.01% mensile.
Nella zona metropolitana di New York, la crescita dei prezzi ha mostrato variazioni tra i segmenti di mercato: le case iniziali sono aumentate del 7.9%, le proprietà di fascia media sono aumentate dell'8.2% e le case di lusso hanno guadagnato un 2.3%. Il capo economista Mark Fleming ha osservato che, nonostante i tassi ipotecari più elevati, i prezzi delle case sono rimasti resilienti, con solo due mercati che mostrano diminuzioni anno su anno: Tampa (-3.3%) e Oakland (-0.3%).
First American Data & Analytics publicó su informe del Home Price Index (HPI) de noviembre de 2024, que muestra que los precios de las viviendas en New York-Jersey City-White Plains aumentaron un 5.3% interanual, mientras que cayeron un 0.2% mes a mes. El HPI nacional mostró un aumento del 3.9% interanual y una ligera disminución del 0.01% mensual.
En el área metropolitana de Nueva York, el crecimiento de precios varió entre los segmentos del mercado: las viviendas de inicio aumentaron un 7.9%, las propiedades de nivel medio aumentaron un 8.2%, y las casas de lujo ganaron un 2.3%. El economista jefe Mark Fleming señaló que a pesar de las tasas hipotecarias más altas, los precios de las viviendas han permanecido resilientes, con solo dos mercados mostrando caídas interanuales: Tampa (-3.3%) y Oakland (-0.3%).
퍼스트 아메리칸 데이터 & 애널리틱스는 2024년 11월 주택 가격 지수(HPI) 보고서를 발표하였으며, 뉴욕-저지 시티-화이트 플레인스의 주택 가격이 지난해 대비 5.3% 증가했지만, 월간 기준으로는 0.2% 감소했다고 밝혔습니다. 전국 HPI는 지난해 대비 3.9% 증가하고, 월간 기준으로는 0.01% 소폭 감소했습니다.
뉴욕 대도시 지역에서 가격 상승은 시장 세그먼트에 따라 달라졌습니다: 스타터 홈이 7.9% 상승했고, 중간 가격대 주택은 8.2% 상승했으며, 고급 주택은 2.3% 증가했습니다. 수석 이코노미스트 마크 플레밍은 높은 모기지 금리에도 불구하고 주택 가격이 탄력성을 유지하고 있으며, 유일하게 두 개의 시장이 연간 기준으로 하락세를 보인다고 언급했습니다: 탐파(-3.3%)와 오클랜드(-0.3%).
First American Data & Analytics a publié son rapport sur l'Indice des Prix des Habitations (HPI) pour novembre 2024, montrant que les prix des logements à New York-Jersey City-White Plains ont augmenté de 5.3% par rapport à l'année précédente, tandis qu'ils ont diminué de 0.2% par rapport au mois précédent. L'HPI national a montré une augmentation de 3.9% d'une année sur l'autre et une légère diminution de 0.01% mensuellement.
Dans la zone métropolitaine de New York, la croissance des prix a varié selon les segments de marché : les maisons de départ ont augmenté de 7.9%, les propriétés de milieu de gamme ont augmenté de 8.2%, et les maisons de luxe ont gagné 2.3%. L'économiste en chef Mark Fleming a noté que malgré des taux d'intérêt hypothécaires plus élevés, les prix des maisons sont restés résilients, avec seulement deux marchés affichant des baisses d'une année sur l'autre : Tampa (-3.3%) et Oakland (-0.3%).
First American Data & Analytics hat ihren Bericht zum Home Price Index (HPI) für November 2024 veröffentlicht, der zeigt, dass die Wohnungspreise in New York-Jersey City-White Plains im Jahresvergleich um 5.3% gestiegen sind, während sie im Monatsvergleich um 0.2% gesunken sind. Der nationale HPI verzeichnete einen Anstieg von 3.9% im Jahresvergleich und einen leichten Rückgang von 0.01% im Monatsvergleich.
Im Ballungsraum New York variierte das Preisanstieg in den Marktsegmenten: Starterhäuser stiegen um 7.9%, mittlere Wohnungen um 8.2%, und Luxusimmobilien um 2.3%. Chefökonom Mark Fleming stellte fest, dass trotz höherer Hypothekenzinsen die Immobilienpreise resilient geblieben sind, wobei nur zwei Märkte einen Rückgang im Jahresvergleich aufzeigten: Tampa (-3.3%) und Oakland (-0.3%).
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National House Prices Hover Near Historical Norms
—Steady, single-digit house price growth signals a return to normal following the pandemic-to-post-pandemic roller-coaster ride, says Chief Economist Mark Fleming—
November1 Home Price Index |
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|
|
|
|
Metric |
Change in HPI |
October-November 2024 (month over month) |
-0.2 percent |
November 2023-November 2024 (year over year) |
+5.3 percent |
National HPI |
|
Metric |
Change in HPI |
October-November 2024 (month over month) |
-0.01 percent |
November 2023-November 2024 (year over year) |
+3.9 percent |
Chief Economist National HPI Analysis:
“After a nearly year-long slow down, national house prices re-accelerated modestly for the first time since December 2023 on an annualized basis, but remain in line with historical norms,” said Mark Fleming, chief economist at First American. “As the housing market adjusts to the new normal of higher mortgage rates, buyers and sellers are gradually returning, supported by a healthy labor market and more homes for sale compared to last year. The result is steady, single-digit house price growth, reflecting a market returning to normal following the pandemic-to-post-pandemic roller-coaster ride.”
Year-Over-Year Price-Tier Data for the
The First American Data & Analytics HPI segments home price changes at the metropolitan level into three price tiers based on local market sales data: starter tier, which represents home sales prices at the bottom third of the market price distribution; mid-tier, which represents home sales prices in the middle third of the market price distribution; and the luxury tier, which represents home sales prices in the top third of the market price distribution.
CBSA |
Starter |
Mid-Tier |
Luxury |
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“While some may have expected sustained higher mortgage rates to drive widespread house price declines, prices have proven resilient, falling in only two markets year over year last month,” said Fleming. “House prices tend to be ‘downside sticky’ because home sellers would rather withdraw from the market than sell at a discount.”
November 2024 First American Data & Analytics Price Tier HPI Highlights |
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Core-Based Statistical Areas (CBSAs) Ranked by Greatest Year-Over-Year Increases in Starter Tier HPI |
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CBSA |
Change in Starter Tier HPI |
Change in Mid-Tier HPI |
Change in Luxury Tier HPI |
|
+7.9 percent |
+8.2 percent |
+2.3 percent |
|
+6.2 percent |
+3.0 percent |
+1.8 percent |
|
+6.1 percent |
+5.8 percent |
+6.2 percent |
|
+5.7 percent |
+5.8 percent |
+5.6 percent |
|
+5.5 percent |
+6.3 percent |
+6.0 percent |
Additional November 2024 First American Data & Analytics HPI Highlights |
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|
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Core-Based Statistical Areas (CBSAs) with Greatest Year-Over-Year Increases in HPI |
|
CBSA |
Change in HPI |
|
+7.7 percent |
|
+5.4 percent |
|
+5.3 percent |
|
+5.1 percent |
|
+5.0 percent |
Core-Based Statistical Areas (CBSAs) with a Year-Over-Year Decease in HPI |
|
|
-3.3 percent |
|
-0.3 percent |
HPI data for all 50 states and the largest 30 CBSAs by population is available here.
Visit the First American Economic Center for more research on housing market dynamics.
Next Release
The next release of the First American Data & Analytics House Price Index will take place the week of January 20, 2025.
First American Data & Analytics HPI Methodology
The First American Data & Analytics HPI report measures single-family home prices, including distressed sales, with indices updated monthly beginning in 1980 through the month of the current report. HPI data is provided at the national, state and CBSA levels and includes preliminary index estimates for the month prior to the report (i.e., the preliminary result of July transactions is reported in August). The most recent index results are subject to revision as data from more transactions become available.
The HPI uses a repeat-sales methodology, which measures price changes for the same property over time using more than 46 million paired transactions to generate the indices. In non-disclosure states, the HPI utilizes a combination of public sales records, MLS sold and active listings, and appraisal data to estimate house prices. This comprehensive approach is particularly effective in areas where there is limited availability of accurate sale prices, such as non-disclosure states. Property type, price and location data are used to create more refined market segment indices. Real Estate-Owned transactions are not included.
Disclaimer
Opinions, estimates, forecasts and other views contained in this page are those of First American’s Chief Economist, do not necessarily represent the views of First American or its management, should not be construed as indicating First American’s business prospects or expected results, and are subject to change without notice. Although the First American Economics team attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. © 2024 by First American. Information from this page may be used with proper attribution.
About First American Data & Analytics
First American Data & Analytics, a division of First American Financial Corporation, is a national provider of property-centric information, risk management and valuation solutions. First American maintains and curates the industry’s largest property and ownership dataset that includes more than 8 billion document images. Its major platforms and products include: DataTree®, FraudGuard®, RegsData®, First American TaxSource™ and ACI®. Find out more about how First American Data & Analytics powers the real estate, mortgage and title settlement services industries with advanced decisioning solutions at www.FirstAmDNA.com.
About First American
First American Financial Corporation (NYSE: FAF) is a premier provider of title, settlement and risk solutions for real estate transactions. With its combination of financial strength and stability built over more than 135 years, innovative proprietary technologies, and unmatched data assets, the company is leading the digital transformation of its industry. First American also provides data products to the title industry and other third parties; valuation products and services; mortgage subservicing; home warranty products; banking, trust and wealth management services; and other related products and services. With total revenue of
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1 The most recent index results are subject to revision as data from more transactions become available.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241226749079/en/
Media Contact:
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Corporate Communications
First American Financial Corporation
(714) 250-3298
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Investor Relations
First American Financial Corporation
(714) 250-5214
Source: First American Data & Analytics
FAQ
What was the year-over-year home price increase in New York-Jersey City-White Plains for November 2024?
How did different price tiers perform in the New York metro area according to FAF's report?
Which markets showed price declines in FAF's November 2024 Home Price Index?
What was the national home price change according to FAF's November 2024 report?
Which metropolitan areas showed the highest year-over-year HPI increases in November 2024?
