Home price index increases 4.4% in March

PROVIDENCE – The Rhode Island home price index for single-family homes increased 4.4% year over year in March, the third-fastest growth rate in New England, according to CoreLogic.

The national HPI growth rate was 3.7% for the 12 months ending in March. The report characterized national HPI growth as slowing, attributed to slowdowns in the nation’s most expensive markets.

“The U.S. housing market continues to cool, primarily due to some of our priciest markets moving into frigid waters,” Ralph McLaughlin, deputy chief economist at CoreLogic, said on May 7. “But the broader market looks more temperate, as supply and demand come into balance.”

The report also included HPI data for the Providence-Warwick-Fall River metropolitan area, where the HPI increased 4.5% year over year.

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