Case-Shiller Shows 4.6% Boston Price Decline
The S&P/Case-Shiller index reported a 4.6 percent decline in February home prices in the Boston area compared to February 2007, The Boston Globe reported on its real estate blog April 29, 2008.
"Case-Shiller lags the reports from [The] Warren Group and the Massachusetts Association of Realtors, both of which released March data yesterday. But Case-Shiller is more reliable because it is based on repeat sales of the same homes, eliminating any bias caused by a change in the kinds of homes that are selling."
It is the 23rd straight month of year-over-year declines in the index, which has now dropped 12 percent from its peak in September 2005, according to the blog post.
Click here for more data from the S&P/Case-Shiller Index.
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