PROVIDENCE – The home price index for a single-family home in the Providence-Warwick- metropolitan area increased 6.8 percent year over year in August, according to a CoreLogic report Tuesday. Month to month the HPI in the metro area increased 0.8 percent.
Nationally, the HPI increased 5.5 percent year over year in August and 0.1 percent from July to August.
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The Rhode Island HPI increased 6.9 percent year over year, the most of any state In New England in August. The Ocean State HPI increased 1 percent month to month, 0.9 percentage points higher than the nation at large.
Massachusetts HPI experienced the second largest year-over-year growth in the region at 5.5 percent, followed by New Hampshire (5.1 percent), Maine (3.5 percent), Vermont (2.6 percent), and Connecticut (1.8 percent).
Nevada had the highest year-over-year HPI growth rate in the nation in August at 13 percent. North Dakota was the only state reported to have an HPI decline year over year, falling 1 percent.
CoreLogic Chief Economist Frank Nothaft noted that national HPI growth was slowed by a rise in mortgage rates, which has “made it more difficult for potential buyers to afford a home.”
The report may be read online, but requires free registration to see the data.
Chris Bergenheim is the PBN web editor. Email him at Bergenheim@PBN.com.
