Metro-area home prices flat in Dec., mirroring national trend

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. More

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Metro-area home prices flat in Dec., mirroring national trend

BLOOMBERG FILE PHOTO/JACOB KEPLER
PROVIDENCE METRO-AREA home prices were flat in December compared with the previous month and remained 22.7 percent below their peak levels in June 2006, according to the Black Knight Home Price Index released Monday.
Posted 2/25/14

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.

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