Warren Group Reports – Boston home prices rising
Interesting article from Banker & Tradesman entitled: Home Prices Rising?
There have been several reports, including one from Zillow earlier this week, about home prices rising or stabilizing in some parts of the country.
Does that include the Bay State?
Statewide, median home prices so far this year are off almost 10 percent from last year, according to The Warren Group.
But the rate of decline has been narrowing over the last several months, and in September the price drop was only 1.4 percent.
Greater Boston home prices actually rose year-over-year for the first time in 2009 during the month of September.
The median price for single-family homes sold in towns and cities within Route 128 inched up 1.9 percent to $360,000 in September from $353,250 in September 2008, according to The Warren Group.
Will Greater Boston home prices climb in upcoming months?
Can it be that we hit bottom? Does September numbers show that the worse is over?
My thoughts: It’s all about jobs. If good paying jobs don’t come back to Boston, condo prices will continue to drop. The uptick in September could be more of a fluke than a recovery. We’ll see.