By PBN Staff
PROVIDENCE – Single-family home prices in the Providence-New Bedford-Fall River area dropped 1.7 percent in June compared with the same period in 2011, according to CoreLogic’s Home Price Index.
Steadily declining prices in the Providence area during the past year have been at least partially attributed to pressure from distressed sales, but the CoreLogic index shows June home prices, excluding foreclosures and short sales, rose 0.9 percent year over year.
Separated from Bristol County, Mass., year-over-year, single family home prices in Rhode Island declined 0.4 percent in June, including distressed sales.
Excluding distressed sales, year-over-year, single family home prices in the Ocean State rose 3.3 percent in June.
Rhode Island’s home price drop was the eighth highest in the country in June. Comparatively, Alabama and Connecticut saw home prices drop the most at 4.8 percent and 4 percent, respectively, according to the Santa Ana, Calif.-based real estate data firm.
Statewide, Massachusetts saw prices rise 1 percent from June 2011 to June 2012 for single family home prices including distressed sales.
Excluding distressed sales, year-over-year, single family home prices in the Bay State rose 2.7 percent.
Nationally, home prices, including distressed sales, rose 2.5 from June 2011 to June 2012.