SOUTHAMPTON, N.Y. — National home prices broke another annual growth record as buyer demand remained strong and housing supply remained tight.
Prices rose 1.1 percent from June to July in the Nassau County-Suffolk County NY Metropolitan Division, according to the latest data from the S&P CoreLogic Case-Shiller Index, one of the leading trackers of the housing market. Prices increased by 12.3% in July 2021 compared to July 2020.
Prices in the bottom third of the local market — homes priced under $498,000, often labeled starter homes — rose 17.3 percent year over year. The top third of the market (homes over $681,000) saw a 12.5% increase.
Nationally, home prices rose 1.3 percent from July to August 2021, according to CoreLogic data. Price growth was slower than in June to July 2021, when prices rose 1.8 percent nationally.
On an annual basis, prices rose 18.1 percent from August 2020 to August 2021, the highest increase in 45 years. Prices for single-family homes increased by 19.8% last year. Attached properties such as condominiums rose 12 percent.
Suffolk County is part of the Nassau-Suffolk County Metropolitan Division of New York, a term used by the US Census Bureau to identify areas with strong economic ties. Many MSAs contain more than one county.
Editor's Note: This post was automatically generated using an analysis of Case-Shiller Index data by CoreLogic Inc. from the Associated Press. Please report any bugs or other feedback to content@patch.com.
