Prov. metro home prices climb 5.3% in Sept.

THE PROVIDENCE-Warwick-Fall River metropolitan area saw home prices increase 5.3 percent over the year in September, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
THE PROVIDENCE-Warwick-Fall River metropolitan area saw home prices increase 5.3 percent over the year in September, according to Black Knight Financial Services. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – The Providence-Warwick-Fall River metropolitan area ranked 25th among the 40 largest metros nationwide for its home price growth of 5.3 percent over the year in September, Black Knight Financial Services said Monday.
Home prices in the Providence metro increased to $267,000 in September compared with $254,000 in September 2015. Portland, Ore., had the greatest over-the-year increase at 11.7 percent to $357,000, while St. Louis had the only price decrease among the largest metros at 4.3 percent, to $153,000.
The Providence metro’s home prices are still 13.9 percent below the peak price of $310,000 recorded in June 2006, but are 25.4 percent above the low of $213,000 reached in January 2012, the national market bottom.
Boston was 20th on the list, tying with Jacksonville, Fla., and Miami for 6 percent home price growth over the year. The Boston metro saw prices increase to $431,000 from $407,000 last year, hitting a new peak for the area.
Black Knight said nationwide, home prices increased 5.4 percent over the year in September to $266,000 and are within 0.6 percent of hitting a new national peak. September’s national average home price is 33.3 percent higher than the low in January 2012.

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