U.S. home prices were up 1% for the month, rising 4.9% on a year-over-year basis, according to Black Knight’s latest Home Price Index report, based on April 2015 residential real estate transactions.
This puts national home prices up nearly 3% since the start of the year and up just under 24% since the bottom of the market at the start of 2012.
At $248,000, the national level HPI is now just 7.6% off its June 2006 peak of $268,000.
Washington led gains among the states, seeing 2.0% month-over-month appreciation, while Seattle led metro areas with 2.2% growth from March.
Detroit, Michigan; San Jose, California, and Ft Collins, Colorado all saw home prices rise 2.0% for the month, making them three of the nation’s best performing metro areas.
Among the nation's 20 largest states, four hit new peaks in April:
- Colorado ($294K)
- New York ($345K)
- Tennessee ($174K)
- Texas ($208K)
Of the nation’s 40 largest metros, 10 hit new peaks:
- Austin, TX ($277K)
- Columbus, OH ($181K)
- Dallas, TX ($209K)
- Denver, CO ($314K)
- Honolulu, HI ($526K)
- Houston, TX ($214K)
- Nashville, TN ($213K)
- San Antonio, TX ($189K)
- San Francisco, CA ($701K)
- San Jose, CA ($847K)
Both Boston, MA and Portland, OR are within 0.75% of reaching new peaks.
