Greater Boston home values drop just a bit, according to S&P/Case-Shiller Home Price Indices
The value of a home in Greater Boston fell by 0.2 percent on a seasonally adjusted basis from May to June, according to the S&P/Case-Shiller Home Price Indices, which tracks repeat home sales.
During the same period, home values rose 0.9 percent for a 20-city composite index on a seasonally adjusted basis, according to the S&P/Case-Shiller Home Price Indices.
Overall, Tuesday’s “report shows that housing prices are rising but the pace may be slowing,” David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement. “Thirteen out of 20 cities saw their returns weaken from May to June. As we are in the middle of a seasonal buying period, we should expect to see the most gains. With interest rates rising to almost 4.6 percent, home buyers may be discouraged, and sharp increases may be dampened. Other housing news is positive but not as robust as last spring.”Chris Reidy can be reached at email@example.com.