Prov. metro 20th in nation for 5% home price growth in April

THE PROVIDENCE-WARWICK-FALL RIVER metropolitan area had home price growth of 5 percent year over year in April, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
THE PROVIDENCE-WARWICK-FALL RIVER metropolitan area had home price growth of 5 percent year over year in April, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – The Providence-Warwick-Fall River metropolitan area falls in the middle of the 40 largest metros nationwide for its home price growth over the year in April, Black Knight Financial Services said Monday.
The Providence metro ranked 20th on the list for 5 percent home price growth in April. The average home price was $260,000 compared with $248,000 in April 2015, Black Knight said.
While prices are on the upswing, they are still 16.1 percent off the $310,000 peak price recorded in June 2006. Prices in the Providence metro have climbed nearly 22 percent since the low in January 2012 of $214,000. Prices also have risen 2.1 percent since the start of the year when they averaged $255,000.
Portland, Ore., led home price growth year over year in April, reporting a 12.9 percent increase, to $346,000. At the bottom of the list was St. Louis, the only metro to report a decline, at 4.1 percent, to $160,000.
Nationally, home prices increased 5.4 percent over the year in April, and averaged $260,000. That’s 30 percent higher than the market bottom in January 2012, and only 2.9 percent off from the June 2006 peak.

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