Home prices in Greater Boston increased in August as optimism for a continued recovery in the region’s housing market gains momentum, according to the Standard & Poor’s Case-Shiller Home Price Index, a measure of U.S. home prices.
Boston area home prices increased by 1.7 percent over the same month one year ago. Boston was one of 19 U.S. cities where the index posted positive monthly gains.
News on home prices confirms other good news about housing. Single-family housing starts are 43 percent ahead of last year’s pace, existing and new home sales are also up, the inventory of homes for sale continues to drop and consumer mortgage default rates are reaching new lows. Further consumer confidence continues to rise.
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