In New York, the price increase for housing in August was 6.1 percent, according to the statistics. It was clearly higher than the average for the entire country, even in cities like Chicago and Cleveland, where housing prices rose 5.9 and 4.7 percent, respectively.
But in other places, it was downward. In Tampa and Miami, housing prices fell in year-on-year terms by 3.3 and 1.7 percent, respectively, in year-on-year terms.
”It is clear that the rapid price increases of previous years have ceased”, writes Nicholas Godec, department manager at S&P Dow Jones, in a comment.
