Black Knight: Prov. metro ranks 23rd for 4.4% September home price increase

HOME PRICES IN the Providence metropolitan area were $255,000 in September, an increase of 4.4 percent from a year ago, and unchanged from August, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
HOME PRICES IN the Providence metropolitan area were $255,000 in September, an increase of 4.4 percent from a year ago, and unchanged from August, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – The Providence metropolitan area ranked 23rd in a list of the 40 largest metros nationwide for its increase in home prices in September compared with September 2014, according to Black Knight Financial Services.
Home prices in the Providence metro were $255,000, a 4.4 percent increase from $244,000 a year ago, and an 18.7 percent jump from January 2012 – the date of the national market bottom – when prices were $215,000.
However, the average home price is still nearly 18 percent less than the peak reached of $311,000 in June 2006, Black Knight said.
According to Black Knight, among the 40 largest metros, San Jose, Calif., had the greatest year-over-year home price increase at 13 percent, to $856,000, while St. Louis, Mo., had the greatest – and only – decline at 3.8 percent, to $170,000.
The Boston metro ranked 22nd on the list, tying with Orlando, Fla., for its 5.2 percent increase in September. Boston’s average home price was $407,000, compared with $387,000 in September 2014. Orlando’s average price was $192,000, compared with $182,000 a year ago.
Nationwide, the average home price was $253,000, 5.5 percent higher than September 2014’s home price of $240,000, but 5.4 percent less than its June 2006 peak of $268,000. Nationwide, home prices are 26.9 percent higher than they were at the market’s bottom, Black Knight said.

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