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By PBN Staff
By PBN Staff
PROVIDENCE – Home prices in the Providence metro area reached $238,000 in December on the Black Knight Home Price Index released Monday, unchanged from the previous month.
On a year-over-year basis, the December figure represented a 5.4 percent increase over the December 2012 home price index of $226,000, but remained 22.7 percent below peak home prices in June 2006, when the index hit $308,000 in the region.
Nationally, the property price index was also unchanged in December at $232,000. Compared with December 2012, when the price index was $214,000, the U.S. home price index rose 8.4 percent, but was still 13.9 percent short of the June 2006 peak level of $270,000.
The Black Knight Home Price Index, formerly the LPS Home Price Index, is compiled each month by Jacksonville, Fla.-based Black Knight Financial Services, formerly Lender Processing Services Inc.
The index combines property and loan data in a repeat sales analysis of home prices as of their transaction dates and covers about 89 percent of single-family residential properties in the United States.