Black Knight: R.I., Prov. metro experience home price drops in Feb.

BLACK KNIGHT FINANCIAL SERVICES released its home price index report for February transactions, showing that Rhode Island and the Providence metropolitan area ranked in the bottom 10 for home price increases compared with January's figures.  / COURTESY BLACK KNIGHT FINANCIAL SERVICES
BLACK KNIGHT FINANCIAL SERVICES released its home price index report for February transactions, showing that Rhode Island and the Providence metropolitan area ranked in the bottom 10 for home price increases compared with January's figures. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – Rhode Island and the Providence metropolitan area both ranked in the bottom 10 for home price changes in February, according to Black Knight Financial Services.
Black Knight, which released its latest home price index report Monday based on residential real estate transactions for that month, said Rhode Island landed in the bottom 10 for its home price decline of two-tenths of a percentage point in February compared with the prior month.
Rhode Island tied with New Hampshire and Massachusetts for the third highest home price drop in February, behind only Connecticut at six-tenths of a percentage point and New Jersey and Vermont, at five-tenths of a percentage point each.
Among the metros, the Providence area ranked 10th highest for a month-over-month price decline of three-tenths of a percentage point.

The Providence area, which is included among the 40 largest metropolitan areas, had an average home price of $245,000, a 3.6 percent increase from February 2014 when it was $237,000. The price reflects a 0.2 percent drop from January when the average home price was $246,000, and a 20.1 percent drop from the peak price of $310,000 in June 2006.

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