Boston Home Prices Up, Foreclosures Down in August

Boston Home Prices Up, Foreclosures Down in AugustThe latest measures of the state housing market’s recovery pointed in the right direction Tuesday, with foreclosures declining and home prices rising.

Single-family home values in the Boston area were up 0.7 percent in August, compared with July, marking the fifth consecutive month of increases, according to the S&P/Case-Shiller Home Price Indices. It monitors repeat home sales and is considered by many in the industry to be the best indicator of the nation’s real estate market.

The price improvement locally is in keeping with national numbers reflecting a healthier housing market. Over the last year, Boston-area home prices rose by an average of 1.7 percent, Case-Shiller said. Values increased 2 percent during the same period in the 20 US metro areas the index measures.

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Authored By Jenifer B. McKim – See the Full Story at the Boston Globe

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