Metro-area home price growth in Sept. lags R.I., Mass.

Single-family home prices in the Providence metro area rose 7.5 percent in September compared with the same period in 2012, CoreLogic said Tuesday. More

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Metro-area home price growth in Sept. lags R.I., Mass.

COURTESY CORELOGIC
SINGLE-FAMILY HOME PRICES in the Providence-Fall River-New Bedford metro area rose 7.5 percent in September, included foreclosures and short sales, according to the CoreLogic Home Price Index released Tuesday. The metro area figure compares with a 8 percent increase in Rhode Island statewide home prices and an 11.7 percent rise in Massachusetts home prices.
Posted 11/5/13

PROVIDENCE – Single-family home prices in the Providence-Fall River-New Bedford metro area rose 7.5 percent in September compared with the same period in 2012, CoreLogic said Tuesday.

Excluding short sales and foreclosures, the Irvine, Calif.-based real estate data firm’s home price index for the metro area rose 8.1 percent year over year.

On the state level, Rhode Island home prices including distressed sales increased 8 percent year over year in September and Massachusetts prices jumped up 11.7 percent.

Nationally, the CoreLogic home price index rose 12 percent in September compared with September 2012.

“U.S. home prices continued their ascent in September,” said CoreLogic President and CEO Anand Nallathambi. “Average home prices in nearly half the states are now within striking distance of their pre-downturn pricing peaks. We are seeing a slowdown in the rate of price appreciation over the past few months from the rapid pace experienced over the first half of this year. This deceleration is natural and should help keep market fundamentals in balance over the longer-term.”

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