(NorthJersey.com, December 31) Home prices continued to rise in the region in October, but at a cooler pace than in the nation as a whole, the Standard & Poor's/Case-Shiller home price index reported Tuesday.
Values of single-family homes rose 4.9 percent in the New York metropolitan area, which includes North Jersey, in the 12 months ended in October. That compares with a rise of 13.6 percent nationwide - the biggest year-over-year jump since 2006, when the housing market was booming.
Even with these increases, home prices are only at the levels of almost a decade ago, mid-2004, and remain about 20 percent below their peaks in mid-2006, both nationally and in the area.
Case-Shiller does not break out prices by county, but according to the…