On the Yahoo! Finance portal they are reporting a 18.2% decrease in overall home prices compared to November of last year. The Standard & Poor's Case Shiller index dropped 2.2% from October. NYC Region prices dropped 7.1% compared to November 2008 from November 2007 which is much less than the National year drop. Prices in NYC according to the index are now as low as February 2004.
http://finance.yahoo.com/news/Home-prices-plunge-record-182-rb-14165577.html
This confirms what most people have been aware of in this area for over a year in terms of declining prices in property. The market in our area is at least holding better than other parts of the country. This is true of Hoboken, but for how long? The current Hoboken tax situation and budget crises certainly doesn't help.
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Economy Watch - Shiller's Housing Indices for November 2008
