Boston-area home prices rose 3.7 percent in May, offering a rare piece of positive news in a housing market that has tumbled some 10.8 percent since its peak in 2006.
The local real estate data was part of a broader study of home prices that showed a 1.6 percent increase in the United States from the end of April through the end of May. Nationally, home prices are still down 10.5 percent year-over-year.
The report, by Integrated Asset Services LLC, showed the strongest gain in the Northeast, where prices rose 3.2 percent.Suffolk County saw the strongest gain locally, rising 5.9 percent over May’s numbers. Still, Suffolk County home prices, which includes sales in Boston proper, are down some 18.2 percent since the peak, according to IAS.
Other Mass. counties to see increases in May included Middlesex (4.5 percent), Plymouth (2 percent), Essex (3.2 percent) and Norfolk (1.9 percent).
Source: Boston Business Journal
