NYC home prices fall in the aftermath of the San Bernardino mass shooting

Real estate sales in New York City fell by 5.6% in January, the second straight month of declines, according to a report by brokerage CoreLogic.

New York’s real estate market is experiencing its largest drop in more than a decade, according the report, and it’s not only a sign of the ongoing economic slowdown.

“Sales of single-family homes fell by 7.3% in the month of January compared to the same month last year,” CoreLogics reported.

“This was the lowest December monthly drop in the CoreLogical CoreLogix database of residential real estate sales, a trend that has continued throughout 2017,” the brokerage said.

“The median price of new homes in New Yorks metro area fell by 3.6%.

The median price for homes under $300,000 fell by 9.6%, according to CoreLoges data.”

The median house price in New Orleans was $5.5 million, down from $6.5-6.8 million in December, CoreLogis said.

The median home price in Boston, New York, and Philadelphia was all down in the same amount, by 6.6-7% respectively.

Real estate prices in Chicago, Los Angeles, and San Francisco are all still above $1 million.

The CoreLogica report said that a majority of new listings on the market were under $100,000.

The New York market is now one of the most expensive in the nation, with prices for single- and duplex homes up 13.5% and 10.4% respectively in January.

Sales of single and duplles rose by 17.2% and 17.1% in December and January.