Black Knight: R.I. again in bottom 10 for HPI

RHODE ISLAND AGAIN RANKED among the bottom 10 states in December in terms of home price declines, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
RHODE ISLAND AGAIN RANKED among the bottom 10 states in December in terms of home price declines, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – Rhode Island again landed in the bottom 10 for declining home prices in December, according to the latest home price index report from Black Knight Financial Services.
Michigan had the greatest drop at 1.2 percent. It was preceded by Connecticut (-1.1 percent); Vermont, (-0.8 percent); New Hampshire and Pennsylvania, (-0.6 percent); Missouri, (-0.5 percent); Rhode Island, Wisconsin and Minnesota, at (-0.4 percent); and Illinois, (-0.3 percent).
In comparison, Colorado and New York had the greatest price increases at 0.5 percent. Arizona, Florida, Oklahoma and Oregon were next at 0.3 percent increases, followed by Arkansas, Georgia and Wyoming at 0.2 percent, and Idaho, at 0.1 percent.
Nationwide, the average home price was $241,000 in December, an increase of 4.5 percent from the prior year period. That is a 10.2 percent decline from the peak price of $268,000 in June 2006, however.
The Providence metropolitan area’s average home price was $244,000 in December, which was a 3.2 percent increase from December 2013, a 0.3 percent drop from November 2014 and 21 percent decrease from the peak price of $310,000 registered in June 2006.
On a year over year basis, the Providence metropolitan area ranked 28th among the 40 largest metros for its home price change. Month over month, the Providence area ranked 31st.

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