The value of a home in Greater Boston increased by 0.5 percent on a seasonally adjusted basis from July to August, 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.
“The monthly percentage changes for the 20-City composite show the peak rate of gain in home prices was last April,” David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement. “Since then home prices continued to rise, but at a slower pace each month. This month 16 cities reported smaller gains in August compared to July. Recent increases in mortgage rates and fewer mortgage applications are two factors in these shifts. Denver and Dallas again set new highs. All the other cities remain below their peaks. Boston and Charlotte are the two MSAs closest to their peaks with only 8-9 percent left to go. Las Vegas is still down 47.1 percent from its peak level.”