Black Knight Financial Services recently released their November, 2017 Home Price Index (HPI) report that says that U.S. home prices were up 6.44% year over year in November and up 0.27% for the month. The HPI value for August was $283k (another new peak). In fact, ten of the 20 largest states and 12 of the 40 largest metros hit new home price peaks in November. The Black Knight HPI utilizes repeat sales data from the nation’s largest public records data set, as well as its market-leading, loan-level mortgage performance data, to produce one of the most complete and accurate measures of home prices available for both disclosure and non-disclosure states.
Key takeaways:
- At the national level, home prices have now gained 6.49% growth since the start of 2017
- New York led all states in monthly appreciation with home prices there rising 1.36% from October and combined with Florida, accounted for seven of the month’s 10 best-performing metros
- Though Las Vegas, Nev., has gained nearly 13% year-over-year and 93% from the market’s bottom, it remains 25% off its 2006 peak
- Home prices fell in six of the nation’s 20 largest states; Wisconsin saw the largest decline at -0.37%
Click here to read the full report on Black Knight.
