Black Knight: Home Prices Hit Post-Recession High

April 28, 2017

Black Knight Financial Services, Jacksonville, Fla., said U.S. home prices reached a new record in February, surpassing the pre-recession peak set in June 2006.

The company’s Home Price Index Report said the average home price rose to $268,000 in February, matching the June 2006 peak. Nationally, home prices rose by 0.8% for the month and by 5.7% from a year ago, marking the 58th consecutive month of annual national home price appreciation.

Among the nation’s 20 largest states, six hit new peaks: Massachusetts ($377,000); New York ($371,000); North Caroline ($205,000); Tennessee ($191,000); Texas ($232,000); and Washington ($352,000).

Of the nation’s 40 largest metro areas, 14 hit new peaks: Austin, Texas ($308K); Boston ($436K); Charlotte, N.C. ($218K); Columbus, Ohio ($187K); Dallas ($247K); Denver ($373K); Houston ($230K); Kansas City, Mo. ($189K); Nashville ($250K); Portland, Ore. ($366K); San Antonio ($210K); San Francisco ($792K); San Jose ($942K); and Seattle ($435K).

Among largest states, New York (1.2%), California (1.1%) and Texas (1.1%) the largest increases; Ohio (0.1% saw the slowest growth. Washington (2.2%) prices moved faster than any state, followed by Colorado (1.6%).

Of the largest metro areas, New York (1.3%) saw the sharpest growth; Miami (0.3%) saw the slowest. Seattle (2.7%); San Jose (2.2%); Denver (2.0%) and Bellingham, Wash. (2.0%) outpaced all metro areas in February.