CoreLogic: Home prices rise in Providence metro

PROVIDENCE – Home prices in the Providence-Warwick metropolitan area increased year over year in December by 5.4 percent.

Rhode Island home prices climbed 4 percent during the same period, CoreLogic said last week.

Nationally, home prices rose 6.3 percent in December when compared with December 2014. CoreLogic also is predicting that home prices will continue to climb, and should increase by another 5.4 percent by December.

Figures include distressed sales, which are real estate-owned and short sales.

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“Nationally, home prices have been rising at a 5-6 percent annual rate for more than a year,” Frank Nothaft, chief economist for CoreLogic, said in a statement. “However, local market growth can vary substantially from that. Some metropolitan areas have had double-digit appreciation, such as Denver and Naples, Fla., while others have had price declines, like New Orleans and Rochester, N.Y.” •

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