Prices for homes in the U.S. have hit an all-time high and one Massachusetts city is leading the pack.

Boston is one of the cities seeing the biggest spikes.

Nationwide, home prices rose 6.5% on an annual basis in March, according to the S&P CoreLogic Case-Shiller Home Price Index released on Tuesday.

Thomas Ryan, North America economist at Capital Economics, “the increase in home prices observed in March suggests that competition among buyers for the limited number of second-hand homes on the market remains strong.”

According to Realtor.com, the hub is tied with Chicago for the fifth biggest increase, at 8.7%.

“We expect that to continue for the rest of the year,” says Ryan, who is projecting annual home price gains of 3% in 2025 and 2.5% in 2026.

The four cities with bigger increases since March are San Diego, New York, Cleveland, and Los Angeles.

This is a developing story. Check back for updates as more information becomes available.

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