Black Knight: Record-High Home Prices Continue

Black Knight Financial Services, Jacksonville, Fla., said home prices reached new records in April for the third consecutive month.

The company’s monthly Home Price Index report said home prices increased by 1.2 percent from March and by 6 percent from a year ago. At $275,000, the national HPI increased by 3.6 percent since the beginning of the year. April marked the 60th consecutive month of national home price appreciation.

The report said all 20 top states saw price increases in April, with nine hitting records: Indiana ($153,000), Massachusetts ($387,000), New York ($374,000), North Carolina ($209,000), Pennsylvania ($224,000), Tennessee ($196,000), Texas ($237,000), Washington ($367,000) and Wisconsin ($192,000).

Washington led all states for the third consecutive month with 2.1 percent monthly growth, followed by Oregon (1.9 percent) and New Jersey, Nevada, Montana and Michigan with 1.8 percent growth.

The report also noted all 40 top metros hit new highs in April, with 18 hitting new highs: Atlanta ($217,000); Austin, Texas ($316,000); Boston ($450,000); Charlotte, N.C. ($223,000); Cincinnati ($175,000); Columbus, Ohio ($194,000); Dallas ($255,000); Denver ($384,000); Kansas City ($193,000); Los Angeles ($640,000); Nashville, Tenn. ($256,000); Portland, Ore. ($380,000); San Antonio ($213,000); San Diego ($586,000); San Francisco ($821,000); San Jose, Calif. ($987,000); and Seattle ($456,000).

Seattle and Bellingham, Wash., along with Carson City, Nev., led all metros with 2.3 percent monthly appreciation; Washington cities accounted for five of the month’s 10 best-performing metro areas. Home prices in Seattle have now gained 8.4 percent in value since the start of the year.

Among all metros, only Tuscaloosa, Ala., saw a monthly decline in prices, declining by 5.1 percent. Prices in Tuscaloosa has been the worst-performing metro for five consecutive months.