SACRAMENTO, Calif. – September home prices in the Providence-New Bedford-Fall River metro fell by 12.57 percent year-over-year, a steeper decline than the national drop of 11.2 percent, according to statistics released by First American CoreLogic, a national tracker of real estate data.
Thirty-four states also saw year-over-year price drops in the 12-month period ending in September.
In that period, Rhode Island home prices saw the fifth-largest percentage drop in the country, falling 14.96 percent. Prices fell by larger percentages in only four states: Florida fell by 17.54 percent, Arizona fell by 21.09 percent, Nevada fell by 24.99 percent and California fell by 29.85 percent.
A preview of October’s national data shows a 10.5-percent year-over-year drop in home prices, CoreLogic reported.
“Our early estimate of October sales transaction volumes has declined substantially, which is not a surprise given recently released economic data and events in the credit and financial markets,” CoreLogic Chief Economist Mark Fleming said in a statement. “The stabilization of house price trends in volatile markets is encouraging, but the impact of the economic instability remains to be seen over the coming months.”
First American CoreLogic, a member of The First American Corp. group of companies, is a national provider of real estate, property and ownership data. It collects data from 7,569 ZIP codes in the 50 states and District of Columbia. For more information, visit www.CoreLogic.com.
