Home prices rise in Prov. metro, R.I. in October

NATIONWIDE, home prices rose 6.7 percent in October compared with October 2015, CoreLogic said. / COURTESY CORELOGIC
NATIONWIDE, home prices rose 6.7 percent in October compared with October 2015, CoreLogic said. / COURTESY CORELOGIC

PROVIDENCE – Home prices in the Providence-Warwick-Fall River metropolitan area climbed 4.8 percent over the year in October, CoreLogic said Tuesday.
In Rhode Island, home price growth was nearly the same, increasing 4.9 percent over the year.

Nationwide, the change in home price was even higher, rising 6.7 percent in October compared with October 2015.

CoreLogic expects that home prices nationwide will increase 4.6 percent from October to October 2017.
“Home prices are continuing to soar across much of the U.S. led by major metro areas such as Boston, Los Angeles, Miami and Denver. Prices are being fueled by a potent cocktail of high demand, low inventories and historically low interest rates,” Anand Nallathambi, president and CEO of CoreLogic, said in a statement. “Looking forward to next year, nationwide home prices are expected to climb another 5 percent in many parts of the country to levels approaching the pre-recession peak.”

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