• Boston real estate market is ‘overvalued’
    Real Estate

    Boston real estate market is ‘overvalued’

    Jim Morrison — Boston.com Correspondent May 5, 2022 12:49 pm After two years of pandemic-fueled growth, the Greater Boston real estate market is “overvalued,” according to a report the global property information company CoreLogic released Tuesday. Selma Hepp , the company’s chief economist, said if home prices are growing at a 10 percent-faster pace than local incomes over a period of time, they consider the market overvalued. In March, real estate prices grew 11 percent faster than local incomes, pushing Boston just over the edge. To put it in context, during the summer of 1987, before a significant real estate correction, real estate prices were growing 144 percent faster than…

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