PROVIDENCE – The Providence-Warwick-Fall River metropolitan area ranked 30th among the 40 largest metros in the country for its year-over-year home price gain of 5.4 percent in December, Black Knight Financial Services said this week.
Black Knight said the average home price climbed to $268,000 in December, compared with $254,000 in December 2015. The price remains 13.6 percent below the peak price of $310,000 recorded in June 2006, however, but is 26 percent higher than the low of $213,000 set in January 2012, the national market bottom.
Seattle experienced the greatest year-over-year home price growth at 12.1 percent, to $420,000. St Louis had no change in its average home price over the year, holding steady at $157,000 in December.
Boston was among seven of the largest metros that reached a new peak in home prices in December at $434,000, which is nearly 7 percent higher than December 2015.
Massachusetts, New York, North Carolina and Washington also hit new home price peaks in December, $376,000; $370,000; $204,000 and $343,000, respectively.
The average home price in the United States in December was $267,000, 5.7 percent higher than in December 2015, Black Knight said.