US home prices rose more slowly in June as some of the country’s most expensive housing markets saw stagnant or even falling prices.

The S&P CoreLogic Case-Shiller 20-city home price index rose 2.1 percent in June from a year earlier, down from a 2.4 percent gain in May.

Prices fell 1.3 percent in Seattle and inched up 0.7 percent in San Francisco and 1.1 percent in New York. But prices rose 5.8 percent in Phoenix and 5.5 percent in Las Vegas. Prices in the Boston area, however, climbed 3.9 percent year over year and 1.1 percent in June.

Philip Murphy of S&P Dow Jones Indices said that prices have ‘‘clearly cooled off from 2018’’ but continue to grow. ‘‘Therefore, it is likely that current rates of change will be generally sustained barring an economic downturn,’’ he said.

Rising wages and falling mortgage rates have kept demand for housing strong, but buyers aren’t willing to pay escalated prices and ‘‘are making sellers wait and even drop list prices,’’ said Matthew Speakman, economist at the real estate firm Zillow.

The 20-city index has risen 62.3 percent since hitting bottom March 2012 in the aftermath of the financial crisis and Great Recession. It is up 5.4 percent from its pre-crisis peak in July 2006.

Source: Boston Globe

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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