Black Knight: R.I. among top 10 states for home price appreciation in November

BLACK KNIGHT FINANCIAL SERVICES said Rhode Island home prices improved 0.5 percent from October to November. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
BLACK KNIGHT FINANCIAL SERVICES said Rhode Island home prices improved 0.5 percent from October to November. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – Rhode Island was among the top 10 states for home price appreciation in November, Black Knight Financial Services said Monday.

The Ocean State saw home price growth of 0.5 percent from October to November, which was sixth highest in the U.S. It was the only New England state among the top 10.

For the fifth month in a row, New York City led the nation with over-the-month home price growth of 1.1 percent. Next were New Jersey and Tennessee, which each saw home price growth of 0.9 percent, Black Knight said.

Black Knight said November saw home prices rise 0.2 percent over the month at the national level, and 5.7 percent from last year, marking the 55th consecutive month of annual home price appreciation. U.S. home prices are now within just 0.3 percent of hitting a new national peak, Black Knight said.

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Among the 20 largest states tracked by Black Knight, six hit new peaks in November – Massachusetts ($376,000), New York ($365,000), North Carolina ($203,000), Tennessee ($191,000), Texas ($230,000) and Washington ($344,000).

Of the nation’s 40 largest metropolitan areas, Boston, Mass., also was among eight that hit new peaks, with home prices rising to $434,000 in November.

The Providence-Warwick-Fall River metro ranked 23rd for its home price appreciation of 5.9 percent over the year, to $269,000. The metro remains 13.2 percent off from its peak home price of $310,000 in June 2006, but its average price is 26.5 percent higher than the low in January 2012 of $213,000.

The Seattle metro had the greatest over-the-year gain in home prices in November at 12.2 percent, to $420,000, while St. Louis, Mo., was the only metro to record a price decline during that time, 2.6 percent, to $154,000.

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