Report: Providence metro home price rise in middle of U.S. trend

THE PROVIDENCE-WARWICK-FALL RIVER metropolitan area continued rebounding from the housing price collapse, registering a 5.9 percent year-over-year increase in the Black Knight home price index in June, although at $268,000, the value is still 13.7 percent below its June 2006 peak. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
THE PROVIDENCE-WARWICK-FALL RIVER metropolitan area continued rebounding from the housing price collapse, registering a 5.9 percent year-over-year increase in the Black Knight home price index in June, although at $268,000, the value is still 13.7 percent below its June 2006 peak. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – With a 5.9 percent year-over-year increase in the Black Knight home price index in June, the Providence-Warwick-Fall River metropolitan area ranked No. 19 among the top 40 U.S. metros.
The index – prepared by Black Knight Financial Services – puts Providence metro home prices at $268,000 in June, 5.9 percent higher than the $253,000 a year earlier, and 0.9 percent above the May level of $265,000.
The local home price increase outpaced the overall U.S. year-over-year gain, which was 5.3 percent, and stood at $265,000 across the nation in June.
The metro area with the largest over-the-year price increase was Portland, Ore., with a gain of 13.1 percent to $356,000. Only one metro – St. Louis – showed declining home prices over the 12-month period, registering a 4.9 percent decline to $158,000.
Despite registering a 25.4 percent increase from the market trough in the region, which was hit in January 2012 at $213,000, the Providence metro is still 13.7 percent below its June 2006 peak price of $310,000.
Boston home prices hit a new peak, $428,000, which represented a 5.5 percent increase from June 2015. It was one of 14 U.S. metros that hit new home price peaks in June. And among the 20 states followed by Black Knight, Massachusetts was one of six states to hit a new peak, with a home price index value of $372,000.

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