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Boston and U.S. see strong home price increases

Boston condos

Boston condos

From Bloomberg, proving once again that we’re now experiencing a pretty darn strong recovery in the housing market:

The S&P/Case-Shiller index of property values increased 10.9 percent from March 2012, the biggest 12-month gain since April 2006, after advancing 9.4 percent in February, a report showed today in New York. The median projection of 30 economists surveyed by Bloomberg called for a 10.2 percent advance.

But the accompanying chart really tells the story better than words (click on it to see it more clearly). The U.S. numbers are clearly pointing up again, no doubt, the full S&P/Case-Shiller report shows.

In Boston, the market was up 1.2 percent in February to March, and up 6.7 percent over the past year, according to data.

Compared to other cities, Boston’s increases appear small. But Boston also didn’t have as big a housing-market crash as other cities. That’s why Atlanta is up 19 percent, Las Vegas is up 20 percent, etc. They had more room to grow.

2 Responses to Boston and U.S. see strong home price increases

  • How sustainable do you think the run up is? My condo was appraised in January for a refi, and according to the current apring/summer market it seems as though it’s increased nearly $100K in value! That’s insane, and makes me question whether these higher prices are here to stay.

  • JS – I think we’re in another bubble once interest rates go up this will POP