Tuesday, July 22, 2008

New England Real Estate Prices

Click on the images to see the full-sized graphs of housing prices in Boston, Massachusetts, Providence, Rhode Island, and Portland, Maine.



Source.

7 comments:

  1. looks like Maine and R.I. are the places to buy!

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  2. The other way around - Boston has had the least increase in prices after adjusting for inflation.

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  3. Quote: The other way around - Boston has had the least increase in prices after adjusting for inflation.

    Boston still has a little further to fall in nominal terms and a good bit further to fall in real terms, if you go by prices on the futures market. They are currently pricing in a nominal bottom in 2010 Q1 with a flat-line thereafter, which will continue to be a decline in real terms. The volume on S&P/Case-Shiller futures is pretty low, so it may not be a terribly accurate forecast, but I'd still consider it far better than forecasts from The NAR, et al.

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  4. I think there's an error in you analysis. The inflation adjusted prices should be lower than the nominal prices, not higher.

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  5. I think there's an error in you analysis. The inflation adjusted prices should be lower than the nominal prices, not higher.

    That depends on what year you are using as the baseline for the dollar. The charts above are apparently adjusted to be in current dollars, so it is correct that the inflation adjusted values are higher. You need more than $1 today to buy what would have cost $1 in 1997 (for example).

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  6. Any chance you have this for SE NH?

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  7. Greg Goss said...
    "Any chance you have this for SE NH?"

    Rockingham and Strafford Counties in NH are counted as part of the Boston metro area by the U.S. government, so the Boston graph includes them. However, I don't have data specifically for any part of New Hampshire. Sorry.

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