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Black Knight: House Prices Rise 5.3% Annually
press release
   

- At $266K, the U.S. HPI has risen over 33 percent from the market's bottom and is now within just 0.8 percent of a new national peak
- New York and Minnesota led home price gains among the states, seeing 1.1 and 1 percent growth for the month, respectively, while Missouri was the only state to see home prices decline (falling 0.1 percent)
- Albany, Ore., led metro-area growth at 1.3 percent appreciation. However, New York state metro areas accounted for six of the top 10 biggest monthly movers.
- San Jose, Calif., continued to back away from its May 2016 peak, with prices falling another -0.5 percent in July
- Seeing the fastest rate of appreciation among the 40 largest metros, home prices in Portland, Ore., and Seattle have increased over 10 percent since the start of the year
- Home prices in nine of the nation's 20 largest states and 14 of the 40 largest metros hit new peaks in July

The Data & Analytics division of Black Knight Financial Services, Inc. has released its latest Home Price Index (HPI) report, based on July 2016 residential real estate transactions. 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. Non-disclosure states do not include property sales price information as part of their publicly available county recorder data. Black Knight is able to obtain the sales price information for these states by combining and matching records across its unique data assets.

Each month the Black Knight HPI reports five price levels (quintiles), along with REO discount rates, for 18,000+ U.S. ZIP codes. Findings are available with or without seasonal adjustments, although all numbers that follow have not been seasonally adjusted.

For a more in-depth review of this month's home price trends, including detailed looks at average home prices in the 20 largest states and 40 largest metros, please download the full Black Knight HPI Report at http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/HPINow.aspx

United States HPI:

$266K

Change from Last Month:

0.4%

Change from Last Year:

5.3%

Change from Peak:

- 0.8%



Largest States' HPI Changes from Last Month (Ranked by Population)


California:

0.3%

Texas:

0.5%

Florida:

0.3%

New York:

1.1%

Illinois:

0.3%

Pennsylvania:

0.5%

Ohio:

0.6%

Georgia:

0.6%

North Carolina:

0.1%

Michigan:

0.5%



Largest Metros' HPI Changes from Last Month (Ranked by Population)


New York, NY:

1.1%

Los Angeles, CA:

0.4%

Chicago, IL:

0.4%

Dallas, TX:

0.7%

Houston, TX:

0.4%

Philadelphia, PA:

0.3%

Washington D.C.:

0.1%

Miami, FL:

0.0%

Atlanta, GA:

0.7%

Boston, MA:

0.2%



Top 10 Movers, State-Level


New York:

1.1%

Minnesota:

1.0%

Utah:

0.9%

Rhode Island:

0.8%

Wisconsin:

0.8%

Idaho:

0.8%

Oregon:

0.7%

Montana:

0.7%

Ohio:

0.6%

Hawaii:

0.6%



Top 10 Movers, Metro-Level


Albany, OR:

1.3%

Utica, NY:

1.2%

Buffalo, NY:

1.1%

New York, NY:

1.1%

Minneapolis, MN:

1.0%

Logan, UT:

1.0%

Elmira, NY:

1.0%

Glens Falls, NY:

1.0%

Corvallis, OR:

1.0%

Syracuse, NY:

1.0%

To download the full Black Knight HPI Report, visit http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/HPINow.aspx



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