Home prices in the US have reached record highs and one city in Massachusetts is leading the way.
Boston is one of the cities with the biggest peaks.
Nationally, home prices rose 6.5% year over year in March, according to the S&P CoreLogic Case-Shiller Home Price Index released Tuesday.
Thomas Ryan, North American economist at Capital Economics, “the increase in home prices observed in March suggests that competition among buyers for the limited number of second-hand homes on the market remains strong.”
According to Realtor.com, the hub tied with Chicago for the fifth largest increase, at 8.7%.
“We expect this to continue for the rest of the year,” said Ryan, who expects annual house price growth of 3% in 2025 and 2.5% in 2026.
The four cities with larger increases since March are San Diego, New York, Cleveland and Los Angeles.
This is a development story. Check back for updates as more information becomes available.
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