CoreLogic: Home prices increase in December in Prov. metro, R.I.

CORELOGIC SAID home prices increased 7.2 percent nationwide over the year in December. / COURTESY CORELOGIC
CORELOGIC SAID home prices increased 7.2 percent nationwide over the year in December. / COURTESY CORELOGIC

PROVIDENCE – Home prices climbed 5.6 percent in the Providence-Warwick-Fall River metropolitan area in December when compared with December 2015, CoreLogic said Tuesday.

The home price increase was higher in Rhode Island, as the Ocean State saw prices rise 6.5 percent over the year.

Nationwide, home prices had a greater gain, increasing 7.2 percent year over year.

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

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Looking ahead, CoreLogic expects home prices nationwide will increase 4.7 percent from December 2016 to December 2017.

“Last year ended with a bang with home prices up over 7 percent nationally, led largely by major metro areas,” Anand Nallathambi, president and CEO of CoreLogic, said in a statement. “We expect prices to continue to rise just under 5 percent in 2017 buoyed by lack of supply and continued high demand.”

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