Even though May home prices in 20 Major cities dipped 4.5% since last May, Boston was the winner for the month of May.
"Sixteen metro areas recorded non-seasonally adjusted month-over-month gains in May. The biggest winner was Boston, where prices jumped 2.7%, followed by Minneapolis at 2.6% and Washington at 2.4%. The nation's capital was the only place to record a gain over the past 12 months, up 1.3%.
Three cities declined month-over-month, led by Detroit with a 2.8% drop, Las Vegas, with a 0.9% decline, and Tampa, where prices fell 0.6%. The biggest loser over the past 12 months was Minneapolis, where prices fell 11.7%." (Source CNN)
What does this mean for you? It's a great time to buy and invest in Boston Real Estate. Rentals in Back Bay, Beacon Hill, North End, South End, and Downtown Boston are at a current all-time high while vacancy rates an all time low. Whether looking to buy as an investment or as your primary home, we would be more than happy to discuss your options with you.