Home prices drop in Providence area

PROVIDENCE, R.I. – A new report finds home prices in the Providence area have declined more than any other area in the region. They're also among the steepest declines nationwide.

The price tracking group Clear Captial says the Providence, New Bedford, Fall River area saw a more than nine percent drop in prices in the last three months and a nearly two percent year over year decline.

The group ranks Providence number six on its list of lowest performing major markets nationwide. No other metro area in New England made that list.

Clear Capital says the New Orleans area saw the biggest price decline nationwide at nearly 16 percent. The Washington DC market performed the best, with prices rising two percent in the last three months.

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