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Housing recovery gathers momentum in Boston area

The housing market continued its rebound as prices rose solidly in Boston and across the nation, according to S&P/Case Shiller Home Indices. The widely followed index, a widely followed measure of the housing market, showed November home prices in the Boston area climbing nearly 10 percent from a year earlier, and the average price in 20 major metropolitan areas jumping nearly 14 percent.

Home sales have been strong locally and nationally, driven by an improving economy, low mortgage rates, and pent-up demand. In Massachusetts, home sales through November were up more than 6 percent from a year earlier, according to Warren Group, a Boston real estate tracking firm.


Globe Staff