US Home Prices Up 0.3 Percent for the Month; Up 5.5 Percent Year-Over-Year

On Oct 26, 2015

The data & analytics division of Black Knight Financial Services, Inc. recently released its latest Home Price Index (HPI) report, based on August 2015 residential real estate transactions in the United States. The Black Knight HPI combines the company’s extensive property and loan-level databases to produce a repeat sales analysis of home prices as of their transaction dates every month for each of more than 18,500 U.S. ZIP codes. The Black Knight HPI represents the price of non-distressed sales by taking into account price discounts for REO and short sales.

Some findings of the report below.

— At $253K, U.S. HPI is now just 5.3 percent off June 2006 peak of $268K, and up 27 percent from the market’s bottom

— New York led all states at 1.8 percent monthly appreciation and accounted for all 10 top metro-area movers

— New York, Tennessee and Texas hit new peaks again in August

— Illinois saw the most negative movement and accounted for 7 of the 10 worst-performing metro areas

— After 11 consecutive months of new peaks, San Jose, Calif., backed off this trend with a 0.4 percent decline

— Nine of the nation’s 40 largest metro areas hit new peaks in August

 

Note: All dollar figures are in thousands.
United States HPI:	$253
Change from Last Month:	0.3%
Change from Last Year:	5.5%
Change from Peak:	-5.3%

 

Largest States’ HPI Changes from Last Month (Ranked by Population)
California:	0.1%
Texas:	0.7%
Florida:	0.6%
New York:	1.8%
Illinois:	-0.5%
Pennsylvania:	0.0%
Ohio:	-0.1%
Georgia:	0.0%
North Carolina:	0.0%
Michigan:	0.1%

 

Largest Metros’ HPI Changes from Last Month (Ranked by Population)
New York, NY:	1.3%
Los Angeles, CA:	-0.2%
Chicago, IL:	-0.4%
Dallas, TX:	0.8%
Houston, TX:	0.6%
Philadelphia, PA:	0.1%
Washington D.C.:	-0.2%
Miami, FL:	0.6%
Atlanta, GA:	0.0%
Boston, MA:	0.4%

 

Top 10 Movers, State-Level
New York:	1.8%
New Hampshire:	0.7%
Texas:	0.7%
Nevada:	0.6%
Florida:	0.6%
Utah:	0.5%
Montana:	0.5%
New Jersey:	0.5%
Louisiana:	0.5%
Wyoming:	0.5%

 

Top 10 Movers, Metro-Level
Utica, NY:	1.9%
Glens Falls, NY:	1.9%
Watertown, NY:	1.9%
Binghamton, NY:	1.8%
Syracuse, NY:	1.7%
Ithaca, NY:	1.7%
Kingston, NY:	1.7%
Elmira, NY:	1.6%
Rochester, NY:	1.6%
Buffalo, NY:	1.5%

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