Black Knight: Prov. metro home prices rose 4.5% in December

PROVIDENCE – The Providence metro ranked 20th among the nation’s 40 largest metropolitan areas for its 4.5 percent home price increase in December compared with December 2014, according to Black Knight Financial Services.
The average home price in the Providence metro climbed to $255,000 in December from $244,000 in December 2014, but is still 17.6 percent off from the peak recorded in June 2006 of $310,000.
The Providence metro’s average home price in December is a 19.3 percent improvement from January 2012 – the market bottom – when the average price was $214,000, Black Knight said.
San Francisco had the greatest over-the-year price increase at 12.4 percent, to $727,000 from $647,000. St. Louis recorded the only price drop among the large metros at 6 percent, to $161,000 from $171,000.
Nationally, the average home price was $253,000 in December, which remains 5.3 percent off the June 2006 peak of $268,000, and a 27 percent increase from the market’s bottom.

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