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The Boston Globe

Business

Area’s home prices rise, foreclosures fall

Values in metropolitan Boston advance a fifth consecutive month

The latest measures of the state housing market’s recovery pointed in the right direction Tuesday, with foreclosures declining and home prices rising.

Single-family home values in the Boston area were up 0.7 percent in August, compared with July, marking the fifth consecutive month of increases, according to the S&P/Case-Shiller Home Price Indices. It monitors repeat home sales and is considered by many in the industry to be the best indicator of the nation’s real estate market.

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