CoreLogic: Home prices rise in Prov. metro in December

PROVIDENCE – Home prices in the Providence-Warwick metropolitan area increased over the year in December by 5.4 percent, while Rhode Island home prices climbed 4 percent during the same period, CoreLogic said Tuesday.
Nationally, home prices rose 6.3 percent in December when compared with December 2014. CoreLogic also is predicting that home prices will continue to climb, and should increase by another 5.4 percent by December.
Figures include distressed sales, which are real estate-owned and short sales.
“Nationally, home prices have been rising at a 5 to 6 percent annual rate for more than a year,” Frank Nothaft, chief economist for CoreLogic, said in a statement. “However, local-market growth can vary substantially from that. Some metropolitan areas have had double-digit appreciation, such as Denver and Naples, Fla., while others have had price declines, like New Orleans and Rochester, N.Y.”
Said Anand Nallathambi, president and CEO of CoreLogic, “In the short and medium term, local markets with strong employment growth are likely to experience a continued rise in home sales and price growth well above the U.S. average.”

No posts to display