January’s home prices rose slightly, 0.1% month-over-month and 5.3% yearly, according to the home price index report by Black Knight Financial Services.
The report considers repeat sales data and loan-level mortgage performance data to produce its measure of home prices available. Black Knight also uses data from non-disclosure states, states that do not include property sales price information as part of their public records, by combining and matching records across its data assets.
Click to Enlarge
(Source: Black Knight)
This increase is almost equivalent to December 2015’s increase from November with a monthly increase of .01% and an annual increase of 5.5%.
With a national HPI of $253 thousand, home prices are now just 5.4% below the June 2006 peak of $267 thousand, according to the report.
New York came out on top again with 0.9% month-over-month increase, and Illinois saw the most decrease at 0.4%.
Click to Enlarge
(Source: Black Knight)
Click to Enlarge
(Source: Black Knight)
Yet again, from the nations largest 20 states, two hit new peaks:
- New York ($351K)
- Texas ($217K)
Of the nation’s 40 largest metros, nine hit new peaks:
- Austin, Texas ($287K)
- Dallas, Texas ($220K)
- Denver, Colorado ($327K)
- Houston, Texas ($220K)
- Kansas City, Missouri ($173K)
- Nashville, Tennessee ($222K)
- Portland, Oregon ($326K)
- San Francisco, California ($728K)
- San Jose, California ($867K)
