New York Still Faring Better Than Most Cities

We all know that real estate prices in New York City held up for longer and didn’t fall quite as far as they did in some other places around the country; and we know that the local market has some unique dynamics (co-op boards, landmarking, etc.) that serve to limit the downside in some of the more desirable neighborhoods in town. Still, it doesn’t hurt to check in with how the national market is doing. According to this graphic from The New York Times (compiled with data from the Case-Shiller Index), the 20-city index is hovering right around where it was back in May of 2003. Closer to home, the New York City (whose index includes the entire Metropolitan area) is one of only four cities that is holding at 2004 levels.
For Home Prices, It’s Back to at Least 2004 [NY Times]