This week Black Knight Financial Services released their May 2016 Home Price Index (HPI) report that said that U.S. home prices were up 1.1% for the Month and up 5.4% Year-Over-Year. 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 $263K, the U.S. HPI is up 31.7% from the market’s bottom and is just 1.8% off the June 2006 peak
– Idaho led movement among the states, seeing 1.9% growth for the month, followed by North Dakota at 1.8%
– Mountain states dominated the month’s top-performing metro areas
– 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
– All states and metro areas experienced positive price movement in May, with six of the 20 largest states and 15 of the 40 largest metros hitting new peaks
