Boston-Area Housing Values Are Finally Turning The Corner

By Anthony Silva, WBZ NewsRadio 1030 New England Business Editor

BOSTON (CBS) – The latest S&P/Case-Schiller home price index increased by about two percent in May compared with April. That’s the second consecutive increase, according to this index.

Maureen Maitlin at S&P Down Jones says Boston is coming back. She says Boston is also seeing improvements in annual rates of return.

WBZ NewsRadio 1030’s Anthony Silva reports

Maitlin says home prices have mostly been in decline for the past six years. That followed what she calls 15 years of rising prices. Maitlin calls this report significant, because people have been looking for what she calls the turn in the cycle, adding that it’s been a very long cycle.

S&P/Case-Schiller is considered by real estate specialists to be one of the most accurate measures of home values because it’s based on repeat sales of properties.

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