As a home
buyer in Boston, are you wondering how the market is doing? The S&P
CoreLogic Case-Shiller National Home Price Index results just came out and
there is good news for home buyers. Home buyers have been pulling back
over the last several months, and prices are finally following. Boston
home prices are still rising, but the gains are shrinking. In June, prices
nationally rose 6.2 percent year over year, according to the S&P CoreLogic
Case-Shiller Index. That is down from the 6.4 percent annual gain in May.
“We’ve been running faster than we should be able to sustain
for quite some time,” said David Blitzer, managing director at S&P Dow
Jones Indices. Mr. Blitzer said that, over the next year or so, price
gains are likely to ease until they are more in line with wages and inflation.
Home prices in the nation's 10 largest housing markets rose
6 percent annually, down from 6.2 percent in the previous month. In the 20
largest markets, prices were up 6.3 percent, down from 6.5 percent in
May. Home-price growth slowed in June for the third straight month, this
is welcome
news for new Boston home buyers.
The housing market has been slowing in recent months, a
result of rising mortgage rates, a lack of inventory and a run-up in prices
that has strained affordability. Existing-home sales have declined for four
straight months, the National Association of
Realtors said last week. Sales of new homes declined for the second
straight month in July, the Commerce Department said Thursday. You can read
more about these results at the Wall
Street Journal.
Don’t let today’s market scare you off. When you are ready
to start searching for your home, contact an experienced Boston, MA real estate agent.
I am committed to providing you with the highest quality buyer service. When
making the type of investment that buying a home requires, you deserve to have
all the latest market information and the very best advice, both of which I can
provide you with. I hope to speak with you soon!
Lucas Garofalo
Keller Williams Realty
(617) 861-3631
Lucas@LucasBostonHomes.com
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