PROVIDENCE – Home prices in Rhode Island climbed 7.4 percent in March compared with March 2016, CoreLogic said Thursday.
The real estate data tracker is expecting home prices to rise another 4.3 percent by March 2018 in Rhode Island.
Nationally, home prices rose 7.1 percent over the year, slightly below what the Ocean State experienced in March, according to the data tracker.
CoreLogic expects home prices nationwide to grow 4.9 percent by March 2018. Home prices include distressed sales, which are real estate-owned and short sales.
CoreLogic said that including distressed sales, the U.S. has experienced 62 consecutive months of year-over-year increases.
Including distressed sales, national single-family home prices remain 2.8 percent below peak values recorded in April 2006. But national single-family home prices are expected to reach a new peak level in August, CoreLogic said.
Massachusetts also reached a new home price high in March, as prices climbed 6.1 percent over the year, and are expected to rise another 6.2 percent by March 2018.
Lori Stabile is the PBN Web Editor.
