The New York Fed release a new interactive tool that provides much more detailed data on the housing recovery in New York, New Jersey and Connecticut.
The Housing Market Recovery tool is a key part of the Fed’s hope to provide useful information about the states to policymakers and other stakeholders, as well as the public.
The new webpage allows insight into information such as where and to what extent home prices recovered via insightful and interactive visuals. The site also sheds light on the effect on home equity and affordability.
Data pulled from the new tool reveals varied numbers across regional counties. For example, in 35% of counties, median home prices have come back to peak levels. As of September, a rise in home prices across the region’s counties during the year hit 82%.
Home price indices in Brooklyn and Manhattan reported above their 2006 level, while Bronx; Queens and Staten Island fell below. New Jersey and Connecticut counties home prices remained below 2006 level as well.
To read the full press release from the New York Fed, click here.