From the Inman News blog:
The latest Standard & Poor’s/Case-Shiller Metro Home Price Indices, released May 30, shows that home-price increases are nearly nonexistent in Boston …
… Home prices rose 0.1 percent in Boston from March 2005 to March 2006 — the lowest increase among the 10 areas studied.
However, I’m confused. They say “Boston” sales prices, for single-family homes – do they really mean Massachusetts? (Now that I look more closely, the authors say it is the Boston “metropolitan area”, which could mean about a hundred different things.)
So, if you’re a buyer, you’re probably pretty happy – prices are the same as a year ago. Of course, interest rates are up about a point. Argggh!
More importantly, for all of us, why are our prices not increasing as much as in other metropolitan areas? Good thing? Sign of our superior intelligence over other areas of the country (not willing to overpay)?