ECONOMIC INDICATORS

Home prices continue to rise in Providence metro

COURTESY CORELOGIC
SINGLE-FAMILY HOME PRICES increased in the Providence-Fall River-New Bedford metro area in January, CoreLogic said Tuesday.
Posted 3/5/13

PROVIDENCE – Single-family home prices in the Providence-Fall River-New Bedford metro area rose 0.6 percent from January 2012 to January 2013, according to CoreLogic’s Home Price Index.

On a month-over-month basis, home prices, including distressed sales, dropped 1.6 percent in January 2013 from December 2012.

Excluding distressed sales, the Corelogic index showed that January home prices in the metro area saw a 2.2 percent year-over-year increase. On a month-over-month basis, home sales, excluding distressed sales, rose by 0.9 percent from December 2012 to January2013.

Rhode Island’s single-family home prices, including foreclosures and short sales, increased 0.1 percent year-over-year in January. Excluding distressed sales, the Ocean State’s home prices rose by 1.6 percent from January 2012 to January 2013.

Statewide, Massachusetts saw prices, including distressed sales, rise 5 percent from January of 2012 for single-family homes. Excluding distressed sales, single-family home prices in the Bay State rose 5.3 percent.

Nationally, home prices, including distressed sales, rose 9.7 percent year over year in January. Excluding distressed sales, national home prices rose 9 percent year over year in January.

“The HPI showed strong growth during the typically slow winter season,” Mark Fleming, chief economist for CoreLogic, said in a statement. “With these gains, the housing market is poised to enter the spring selling season on sound footing. The improvements are materializing across the country, with all but Delaware and Illinois showing increasing HPI and 15 states within 10 percent of their peak values.”

CoreLogic President and CEO Anand Nallathambi said that the improvement seen in states across the western U.S. and along the East Coast were “likely to boost home sale activity into the first half of 2013.”

Including distressed sales, only four states reported over-the-year price declines in January: Illinois (-0.4 percent) and Delaware (-0.1 percent). Excluding distressed sales, no states posted home price depreciation in January.

CoreLogic listed Rhode Island as one of the five states with the largest “peak-to-current declines,” including distressed sales. Rhode Island’s home prices are 35.5 percent lower than they were at the state’s peak price. The other four states were: Nevada (-51.6 percent), Florida (-43 percent), Arizona (-38.9 percent) and Michigan (-37.4 percent).

Calendar
PBN Hosted
Events

Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
  • Best Places to Work
    Enroll in the 10th Annual Best Places to Work Event and join an impressive group ...
  • Manufacturing Awards
    Applications are now being accepted for the 2nd Annual Manufacturing Awards. Dea ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement