Business

Boston-area home values rose by more than 5% in Feb.

Upward numbers continue trend

Home values in the Boston area increased by 5.2 percent in February compared with the same time last year, according to data released Tuesday.

Home values nationwide increased even more – by 9.3 percent – in the 20 cities covered by the S&P/Case-Shiller Home Price Indices, which tracks repeat home sales and is considered reliable.

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February’s numbers represent the second month in a row that all 20 cities showed price increases compared with the year before, Case-Shiller said. It is another sign that housing markets across the United States are on the upswing.

“Housing continues to be one of the brighter spots in the economy,’’ said David M. Blitzer, chair of the index committee at S&P Dow Jones Indices.

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Boston-area home values represented one of the most modest climbs in values nationwide in February. but that’s partly because region also

suffered less than many other areas during the country’s housing crisis.

Home values here are still down nearly 16 percent compared to 2005, when sales slowed and prices began to tumble. Nationwide, home values are still down about 29 percent, according to Case-Shiller.

Jenifer B. McKim can be reached at jmckim2globe.com. Follow her on Twitter @jbmckim,
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