Sept. home prices up in Prov. metro, R.I.

PROVIDENCE – Home prices are on the rise in the Providence-Warwick-Fall River metropolitan area and in Rhode Island, CoreLogic said Nov. 1.

The real estate data tracker said home prices increased 5 percent over the year in September in the Providence metro, and 5.5 percent in Rhode Island. On a national level, home prices surged 6.3 percent during the same time frame.

Data includes distressed sales, which are real estate-owned and short sales.

CoreLogic estimates home prices will increase by 5.2 percent year over year from September 2016 to September 2017.

- Advertisement -

“Home-price growth creates wealth for owners with home equity,” Anand Nallathambi, president and CEO of CoreLogic, said in a statement. “A 5 percent rise in home values over the next year would create another $1 trillion in home-equity wealth for homeowners.” •

No posts to display