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Home values in the Boston area increased 7.5 percent compared with the same time last year, marking the 11th consecutive month of year-over-year improvements, data released Tuesday show.
With nearly a year’s worth of rising prices now in the books, local housing values have rebounded to within about 11.3 percent of their last peak, in September 2005, according to the S&P/Case-Shiller Home Price Indices, which tracks repeat home sales around the United States and is largely considered one of the best marker’s of the nation’s health.
David Blitzer, managing director of the index committee at S&P Dow Jones Indices, said if the rebound sustains its current pace, Boston-area home values will likely be back to all-time highs within two years.