Aug 2008 27

Our good friend at JPMorganChase, Brian Cavanaugh, just emailed us an article from CNNMoney.com which was about how home prices have plummeted to a new record.  It stated that national prices feel 15.4% in the past 12 months according to the latest S&P/Case-Shiller national home price index report!

We thought to ourselves, wow…this is not good news!  But then I did a little more reading and found that there were a couple of exceptions, Boston being one of them. It went on to say “Denver and Boston were winners for the month, with home prices climbing 1.5% and 1.2% respectively.  Both of these markets have had three consecutive moths of higher prices.  Charlotte and Dallas, both up 1%, have recorded four straight months of gains.”

Even with some of the worst hit neighborhoods such as Dorchester and Roxbury lumped into the Boston total we still reported a gain over the past 3 months.  That’s amazing in a market where oil is sky high, the stock market has gone down the tubes, and gas prices are higher than they have ever been!

It is information like this that helps us provide great service to buyers, renters, and sellers.  Please feel free to contact us at the Warren Residential Group anytime at contact@warrenre.com or 617-848-9616 with any questions or if you would like to hear how we could help you with your next Boston real estate transaction!

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