R.I. home prices fall 4.6% in April

By Patrick Anderson
PBN Staff Writer

PROVIDENCE – Single-family home prices in the Providence-New Bedford-Fall River area dropped 4.6 percent in April compared with the same period in 2011, according to CoreLogic’s Home Price Index.

Separated from Bristol County, Mass., year-over-year home prices in Rhode Island declined 6.2 percent in April, more than all but Delaware, Illinois and Alabama, the Santa Ana, Calif.-based real estate data firm said Tuesday.

Massachusetts statewide prices declined 1.4 percent.

Steadily declining prices in the Providence area over the past year have been at least partially attributed to pressure from distressed sales, but the CoreLogic index shows April home prices excluding foreclosures and short sales dropped 4.5 percent compared with last April.

For the full Corelogic report, click here.

In a separate report released Tuesday, Clear Capital ranked the Providence-New Bedford-Fall River area the eighth worst-performing major housing market in the country in May based on its Home Data Index.

The Truckee, Calif.-based firm said Providence-area home prices declined 8.2 percent in May compared with last May on its index.