CLICK HERE. / " title="HOME PRICE APPRECIATION in the Providence metro area outpaced that of the Northeast and the nation, according to Clear Capital. For a larger version of this graphic, CLICK HERE. /"/>PROVIDENCE – A nationwide index of home sale prices showed that the Providence metropolitan area has performed better than the national average.
The Home Data Index, part of the Market Report released Thursday by Clear Capital, said home prices in the Providence metro area rose 19.3 percent compared with a year ago. The national index ticked up 8.1 percent.
The region also fared better than the Northeast as a whole, which posted a 4.9 percent gain. The metro area includes Providence, Fall River, New Bedford and the surrounding area.
More recent time periods also showed price gains, although not as high. The Providence metro area registered a price increase of 5.8 percent for the four months ending July 31 when compared with the three months prior to that period. (Clear Capital calls this comparison “quarter over quarter” and said it adds the additional month to smooth out the data.) Nationally, prices increased 7.9 percent.
“Similar to the rest of the nation, home prices in the Providence [area] improved quarter-over-quarter, but were accompanied by a slowing year-over-year gain,” Clear Capital wrote.
The quarter-over-quarter home price increase of 5.8 percent compared favorably with the 3.2 percent at the end of last month. But year-over-year growth slowed 1.3 percentage points, Clear Capital said.
Additional information is available at clearcapital.com.
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