National home prices increased 3.6 percent in the second quarter of the year compared to the first quarter, yet were down 5.9 percent compared to the second quarter of 2010, CNNMoney.com reported August 30, 2011.
The gains came after three consecutive quarters of decreasing home prices in the U.S. The data come the S&P/Case-Shiller Index.
The year-over-year price drop of 5.9 percent was larger than expected, with experts forecasting a 4.7 percent decline. Most metropolitan areas across the country saw increased prices month-over-month (1.1 percent nationally), with Boston prices rising 2.4 percent in June.
Karl E. Case, cofounder of the housing index, said the Boston Area continues to be one of the healthiest real estate markets nationwide, The Boston Globe reported August 31, 2011. Even though values here have fallen about 15.3 percent since their peak in September of 2005, that is only about half the decline in values for the 20 cities tracked by the index.
The Boston region’s housing numbers for June represent the third biggest increase in home values for that month nationwide, after Chicago and Minneapolis, according to the index.