Home prices nationwide remained steady in May and were up 1.1% for the month, with all states and metro areas experiencing positive growth for the month.
According to the newest home price report from Black Knight Financial Services, now at $263,000, the U.S. home price is up nearly 32% from the bottom of the market at the start of 2012. It is also only 1.8% off its June 2006 peak.
Back in April, home prices posted an increase of 5.4% from 2015, and 1% from the previous month.
This chart shows the HPI changes in the largest states and metros.
Click to enlarge
(Source: Black Knight)
Black Knight noted that among the 20 largest states it tracks, home prices in Indiana, Massachusetts, New York, Tennessee, Texas and Washington all hit new peaks in May.
As far as metros, Portland, Oregon leads the 40 largest metro areas in year-over-year growth at 13.2%. Following close behind are Seattle and Denver at 11.3% and 11.2%, respectively.
Not all metros and states posted positive results though. Of the 20 largest states and 40 largest metros, only Missouri and the St. Louis metropolitan area registered year-over-year declines in home prices.
Here’s an overall look at national level home price trends.
Click to enlarge
(Source: Black Knight)
