PROVIDENCE – The home price index in Rhode Island increased 14.5% year over year in February, a faster rate of increase than the 10.4% growth experienced nationally, CoreLogic said on Tuesday.
Rhode island had the fourth highest HPI growth rate in New England in February.
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- New Hampshire: 15.9%
- Maine: 15.7%
- Connecticut: 14.8%
- Vermont: 13.1%
- Massachusetts: 10.3%
“Homebuyers are experiencing the most competitive housing market we’ve seen since the Great Recession,” said Frank Martell, president and CEO of CoreLogic. “Rising mortgage rates and severe supply constraints are pushing already-overheated home prices out of reach for some prospective buyers, especially in more-expensive metro areas. As affordability challenges persist, we may see more potential homebuyers priced out of the market and a possible slowing of price growth on the horizon.
