Black Knight: Prov. metro home prices increase nearly 5% in January

THE PROVIDENCE METROPOLITAN area saw home prices climb 4.6 percent in January compared with January 2015, Black Knight Financial Services said. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
THE PROVIDENCE METROPOLITAN area saw home prices climb 4.6 percent in January compared with January 2015, Black Knight Financial Services said. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – The Providence metropolitan area ranked 21st among the nation’s 40 largest metros for its 4.6 percent increase in home prices year over year in January, Black Knight Financial Services said Monday.
The average home price rose to $255,000 in January compared with $244,000 in January 2015, Black Knight said.

Home prices remain 17.9 percent off from their peak in June 2006 when they were $310,000. However, they are 19.1 percent above the low of $214,000 reached in January 2012 – the market bottom.
Portland, Ore., had the greatest home price increase at 11.7 percent over the year in January, to $326,000, while St. Louis, Mo., registered the only decrease among the large metros at 4.2 percent, to $169,000.
Home prices nationwide have climbed 5.3 percent over the year, and average $253,000. That figure is just 5.5 percent lower than the June 2006 nationwide peak price of $267,000.
Month over month, the Providence metro saw prices climb only 0.1 percent from December, the same as the national rate.

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