Eric Convey
Web Editor- Boston Business Journal
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Homes in Greater Boston gained value more slowly over the past year than did homes across the country as a whole, according to the widely respected Case-Shiller home price index.
A home sold in the Boston market in August 2014 fetched on average price 5.0 percent higher than the same home sold in August 2013, according to Case-Shiller. The national growth rate was 5.1 percent.
The index tracks the re-sale value of unaltered homes over time. The latest figures were released this morning.
The major market that saw the most growth over the past year was Miami, where prices increased an average of 10.5 percent. The worst-performing market was Cleveland, where prices increased on average 0.8 percent.
Boston and Detroit were the only two cities that didn’t see a decceleration in month-over-month growth when August growth is compared to July growth. Prices in the two cities were up 0.1 percent in August and also in July.