PROVIDENCE – Home prices in the Providence-Warwick-Fall River metropolitan area rose 5.3 percent over the year in February, to $267,000, ranking it 14th lowest for home-price growth among the nation’s 40 largest metros.
February’s home price is still nearly 14 percent lower than the peak price of $310,000 recorded in June 2006, but it’s 25.7 percent higher than the low of $213,000 in January 2012, Black Knight Financial Services said Monday.
Black Knight said that Seattle had the greatest gain in prices over the year at 13 percent, to $435,000. Pittsburgh had the smallest home-price increase at 1.7 percent, to $190,000.
Nationwide, home prices rose 5.7 percent in February, to $268,000, which is a new peak and nearly 35 percent higher than the national market bottom in January 2012.
Washington led all states in monthly home appreciation at 2.2 percent, while Rhode Island was among the bottom 10 states in this category, with monthly home appreciation at 0.1 percent, which was third lowest in the U.S.
Massachusetts’ monthly home appreciation was sixth lowest at 0.2 percent, and New Hampshire’s monthly home appreciation was ninth lowest at 0.3 percent.
Massachusetts’ home price hit a new peak in February at $377,000, which is 6.1 percent higher than a year ago.
