PROVIDENCE – The home price index in Rhode Island increased 3.7% year over year in January, lower than the 4% rise nationally, CoreLogic said on Tuesday.
Rhode Island’s HPI increase for the month ranked fifth in New England, only ahead of Connecticut.
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Other New England HPI growth year over year in January:
- Maine: 7.5%
- New Hampshire: 5.7%
- Vermont: 5.2%
- Massachusetts: 3.9%
- Connecticut: Declined 0.1%
“Despite a slowdown in home-price growth last summer, annual appreciation is beginning to stabilize,” said Frank Martell, president and CEO of CoreLogic. “While just under half of millennials feel confident they can afford to purchase a home, housing starts have shot up and mortgage rates have come down, which has helped improve affordability and spur overall housing demand.”
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