Metro home prices rise in September

PROVIDENCE – Home prices, including distressed sales, climbed 5.7 percent year over year in September in the Providence-Warwick metropolitan area, CoreLogic said last week.

Nationally, home prices, also including distressed sales, were higher during the same period, rising 6.4 percent. Distressed sales are real estate-owned and short sales.

Home prices for Rhode Island in its entirety posted a year-on-year increase of 6.5 percent in September, slightly higher than the national gain, CoreLogic said.

Colorado had the highest increases in home prices year over year at 10.4 percent. Mississippi had the largest decline at 0.9 percent.

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CoreLogic said that home prices nationwide are projected to increase 4.7 percent from September 2015 to September 2016.

“After nearly 10 years of very high home-price volatility, home-price increases have been remarkably stable for the last 15 months, ranging between a 4.8 percent and 6.5 percent year-over-year increase,” Sam Khater, deputy chief economist for CoreLogic, said in a statement. •

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