Black Knight: Home Prices Up 5.3% Annually

Black Knight Financial Services, Jacksonville, Fla., said U.S. home prices rose by 0.8 percent in June, the 50th consecutive month of home price appreciation. and rose by 5.3 percent from a year ago.

At $265,000, the national Home Price Index is up by nearly 33 percent since the bottom of the market in 2012 and is now within 1.1 percent of its $268,000 peak.

The report said Michigan (+1.6%) and Wisconsin (+1.5%) led home price gains among states. Among metros, Carson City, Nev. came out on top, with 2.4% appreciation, followed by Cleveland at 1.9%. San Jose, Calif., backed off of its May peak, as prices there dipped 0.3 percent, making it one of only two metros (along with Naples, Fla., down 0.4%) to see negative monthly movement. Portland, Ore., Seattle and Denver have all seen greater than 9% home price appreciation in the first half of 2016.

Of the 20 largest states and 40 largest metros, only Missouri and the St. Louis metro area registered year-over-year declines in home prices. Among the nation’s 20 largest states, six hit new peaks: Indiana ($149K); Massachusetts ($372K); New York ($359K); Tennessee ($186K); Texas ($226K); and Washington ($337K).

Of the nation’s 40 largest metros, 14 hit new peaks: Austin, Texas ($305K); Boston ($428K); Charlotte, N.C. ($210K); Columbus, Ohio ($185K); Dallas ($236K); Denver ($361K); Houston ($227K); Kansas City, Mo. ($184K); Nashville, Tenn. ($236K); Pittsburgh ($196K); Portland ($356K); San Antonio ($203K); San Francisco($770K); and Seattle ($410K).