Home prices in the Boston area increased by 10 percent in February, a survey said.
Thomas Grillo
Real Estate Editor- Boston Business Journal
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Greater Boston home prices edged up in February by 10.6 percent, slightly better than the national average, according to CoreLogic (NYSE: CLGX), a residential property information company.
Home prices nationwide increased 10.2 percent in February compared to a year ago. This boost represents the biggest year-over-year increase since March 2006 and the 12th consecutive monthly increase in home prices nationally. On a month-over-month basis, home prices increased by 0.5 percent in February compared to January.
“Home prices continued their march upward in February,” said Anand Nallathambi, CEO of CoreLogic, in a statement. “Nationally, home prices improved at the best rate since mid-2006, marking a full year of annual increases and underscoring the ongoing strengthening of market fundamentals. Continued home price appreciation will provide fuel needed to drive further recovery in the home purchase market.”
Massachusetts was not the state with the highest home price appreciation, those were Nevada (+19.3 percent), Arizona (+18.6 percent), California (+15.3 percent), Hawaii (+14.6 percent) and Idaho (+13.5 percent).
In February, only three states posted home price depreciation: Delaware (-4.4 percent), Alabama (-1.5 percent) and Illinois (-1.0 percent).
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