SACRAMENTO, Calif. – Through October, year-over-year home prices fell 16.12 percent in Rhode Island, giving the Ocean State the fourth-highest percentage for falling home prices in the United States, according to statistics released last month by First American CoreLogic, a national tracker of real estate data.
The three states with steeper price drops were Arizona, with a 20.06-percent decrease; Nevada, with a 25.43-percent decrease; and California, with a 28.25-percent decrease.
Nationally, home prices fell year-over-year by 10.4 percent – nearly matching CoreLogic’s estimate earlier this month of a 10.5-percent November decline – while prices rose in only four states: Louisiana, Texas, South Dakota and West Virginia.
Not-yet-finalized November data predict a 9.6-percent national decline. That would make November the 10th consecutive month of depreciation for the residential real estate market, but the first since January 2008 when the decline in U.S. home prices was less than 10 percent.
CoreLogic reported that homes in the United States lost a total of more than $2 trillion in value in the 12-month period that ended with September. In the Providence-New Bedford-Fall River metropolitan area, October prices were down by 13.36 percent year-over-year prices, the research company has said. (READ MORE)
First American CoreLogic, a member of The First American Corp. group of companies, is a national provider of real estate, property and ownership data. It collects data from 7,569 ZIP codes in the 50 states and District of Columbia. For more information, visit www.corelogic.com.
