US Home Prices Experience Biggest Annual Decline in 11 Years.

Home prices in Massachusetts are increasing statewide, but at a slower pace in and around Boston. Prices for single-family homes in the Greater Boston Association of Realtors’ Eastern Middlesex region were down 5.8 percent, while condo prices continued to rise. Steeply higher mortgage rates have caused sales of homes and condos to drop by more than 25 percent across the state in the first quarter. Inventory of single homes and condos were both down more than 16 percent in March from a year earlier. Previously overlooked cities and towns where prices are below $600,000 are seeing eye-popping price appreciation.