R.I. home-price increase in October largest in U.S.

Rhode Island’s home prices climbed 0.8 percent in October, the largest month-over-month increase in the U.S., according to the LPS Home Price Index released Monday. More

To continue reading this article, please do one of the following.



real estate

R.I. home-price increase in October largest in U.S.

BLOOMBERG FILE PHOTO/JACOB KEPLER
PROVIDENCE METRO AREA home prices increased 0.6 percent in October compared with the previous month, but remained 22.3 percent below their peak levels in June 2006, according to the LPS Home Price Index released Monday.
Posted 12/30/13

PROVIDENCE – Rhode Island’s home prices climbed 0.8 percent in October, the largest month-over-month increase in the U.S., according to the LPS Home Price Index released Monday.

Massachusetts came in at No. 2 in the ranking, with a 0.7 percent increase in October to $329,000 from $326,000 in September. LPS did not report the home-price data for Rhode Island.

In the Providence metro area, home prices rose 0.6 percent in October over the previous month, to $240,000 compared with $238,000 in September. The October figure represented a 5.4 percent rise over the October 2012 home price index of $227,000, but remained 22.3 percent below peak home prices in June 2006, when the index hit $308,000.

Nationally, the property price index climbed to $232,000 in October, 0.1 percent greater than in September. On a year-over-year basis, the U.S. home price index rose 8.8 percent, up from $213,000 in October 2012, but still 14.1 percent short of the June 2006 peak level of $270,000.

The Providence metro area’s 0.6 percent month-over-month increase ranked at No. 6 in the LPS ranking of metro areas nationwide with the largest increases in home prices between September and October, tied with New York City.

The LPS Home Price Index, compiled each month by Jacksonville, Fla.-based Lender Processing Services Inc., combines property and loan data in a repeat sales analysis of home prices as of their transaction dates. The LPS data covers about 89 percent of single-family residential properties in the United States.

Calendar
PBN Hosted
Events

Two Great Programs...One Great Event. PBN's Annual Celebration of Growth and Innovation is now underway. 2014 applications are now available. Deadline August 1st.
  • Healthiest Employers
    Celebrate with the Healthiest Employers in RI on August 14th at the Providence M ...
  • 40 Under Forty
    Thank you to our sponsors and to all those who attended the 10th Anniversary of ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement