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Case Shiller Index Report – Boston real estate price upward

  • Home prices rose 4.3% annually in June, unchanged from the gain seen in May, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
  • The 10-City Composite increased 2.8% annually, down from 3% in the previous month. The 20-City Composite rose 3.5% year-over-year, down from 3.6% in the previous month
Home prices rose 4.3% annually in June, unchanged from the gain seen in May, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
Gains had slowed slightly in May, so this appears to be a small recovery from the coronavirus-induced setback in home sales in March and April.

The 10-City Composite increased 2.8% annually, down from 3% in the previous month. The 20-City Composite rose 3.5% year-over-year, down from 3.6% in the previous month.

Home prices are being fueled by fierce competition among buyers

Home prices are being fueled by fierce competition among buyers for a very slim supply of homes for sale. Inventory at the end of July was down 21% annually, according to the National Association of Realtors. Unsold inventory is now at a 3.1-month supply at the current sales pace, down from 3.9 months in June and down from a 4.2-month supply in July 2019.

Boston Real Estate and the Bottom Line

Meanwhile, home sales, which plummeted in March and April due to the coronavirus pandemic, have now recovered and then some. Sales of existing homes jumped more than 20% month-to-month in June and continued to soar even higher in July when they were nearly 9% higher annually.

Boston Condos for Sale

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