Prov. metro sees 5.4% home price gain in December

BLACK KNIGHT FINANCIAL SERVICES said the Providence-Warwick-Fall River metropolitan area had a year-over-year home price gain of 5.4 percent in December, Black Knight Financial Services said this week. / COURTESY BLACK KNIGHT FINANCIAL SERVICES
BLACK KNIGHT FINANCIAL SERVICES said the Providence-Warwick-Fall River metropolitan area had a year-over-year home price gain of 5.4 percent in December, Black Knight Financial Services said this week. / COURTESY BLACK KNIGHT FINANCIAL SERVICES

PROVIDENCE – The Providence-Warwick-Fall River metropolitan area ranked 30th among the 40 largest metros in the country for its year-over-year home price gain of 5.4 percent in December, Black Knight Financial Services said this week.

Black Knight said the average home price climbed to $268,000 in December, compared with $254,000 in December 2015. The price remains 13.6 percent below the peak price of $310,000 recorded in June 2006, however, but is 26 percent higher than the low of $213,000 set in January 2012, the national market bottom.

Seattle experienced the greatest year-over-year home price growth at 12.1 percent, to $420,000. St Louis had no change in its average home price over the year, holding steady at $157,000 in December.

Boston was among seven of the largest metros that reached a new peak in home prices in December at $434,000, which is nearly 7 percent higher than December 2015.

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Massachusetts, New York, North Carolina and Washington also hit new home price peaks in December, $376,000; $370,000; $204,000 and $343,000, respectively.

The average home price in the United States in December was $267,000, 5.7 percent higher than in December 2015, Black Knight said.

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