CoreLogic: Home prices climb in Prov. metro, R.I. in January

PROVIDENCE – Home prices in the Providence-Warwick metropolitan area rose 5.7 percent over the year in January, and climbed 5.6 percent during the same period in Rhode Island, CoreLogic said this week.
While prices increased in both the Providence metro and Rhode Island, they lagged the national rate, which saw a 6.9 percent hike in home prices over the year in January.
Data includes distressed sales, which are real estate-owned and short sales.

“Heading into the spring buying season, home prices continue to rise across much of the country,” Anand Nallathambi, president and CEO of CoreLogic, said in a statement. “With [interest] rates staying low for now and continued solid job and income growth, the spring buying season is shaping up to be a good one.”
CoreLogic also said that home prices are expected to increase by 5.5 percent on a year-over-year basis from January 2016 to January 2017.

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