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Black Knight Home Price Index Report: U.S. Home Prices Continue to Hit New Highs in April, Rising 1.2 Percent from March, Up 6.0 Percent Year-Over-Year

June 26, 2017
  • At $275K, the national-level HPI is the highest it has ever been, marking a 3.6 percent gain in home prices since the start of 2017
  • Washington continues to outperform the nation, leading all states in monthly appreciation for the third consecutive month and with the Seattle metro area seeing an 8.4 percent gain in home prices since the start of the year
  • Seattle and Bellingham, Wash. – along with Carson City, Nev. – led all metropolitan areas with 2.3 percent monthly appreciation; Washington state accounted for five of the nation’s top 10 best-performing metros
  • All of the nation’s 20 largest states and 40 largest metros saw home prices increase in April, while each of the top 10 best-performing metros saw home prices increase by 2.0 percent or more
  • Tuscaloosa, Ala., was the only metro area to see a decline, with prices falling another 5.1 percent in its fifth consecutive month as the country’s worst-performing metropolitan area
  • Home prices in nine of the nation’s 20 largest states and 18 of the 40 largest metros hit new peaks in April

JACKSONVILLE, Fla., June 26, 2017 (GLOBE NEWSWIRE) -- Today, the Data & Analytics division of Black Knight Financial Services, Inc. (NYSE:BKFS) released its latest Home Price Index (HPI) report, based on April 2017 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: $275K
Change from Last Month:    1.2%
Change from Last Year:6.0%
Change from Peak:0.0% 

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

California:1.0%
Texas:1.3%
Florida: 0.8%
New York:1.5%
Illinois:0.9%
Pennsylvania:1.1%
Ohio:1.6%
Georgia:1.5%
North Carolina:          0.8%
Michigan:              1.8%  

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

New York, NY:1.8%
Los Angeles, CA:1.0%
Chicago, IL:0.9%
Dallas, TX:1.6%
Houston, TX:0.8%
Philadelphia, PA:        1.3%
Washington D.C.:1.0%
Miami, FL:0.4%
Atlanta, GA:1.7%
Boston, MA:1.5% 

Top 10 Movers, State-Level

Washington:            2.1%
Oregon:1.9%
New Jersey:1.8%
Nevada:1.8%
Montana:1.8%
Michigan:1.8%
Alaska:1.6%
Idaho:1.6%
Ohio:1.6%
Utah:                              1.6%

Top 10 Movers, Metro-Level

Seattle, WA:  2.3%
Bellingham, WA:2.3%
Carson City, NV:2.3%
Walla Walla, WA:2.1%
Mount Vernon, WA:    2.1%
Spokane, WA:2.0%
Reno, NV:2.0%
Salem, OR:2.0%
Grants Pass, OR:2.0%
Detroit, MI:2.0%

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

For more information about gaining access to Black Knight's full HPI dataset for your business, please send an email to dataanalyticsinfo@bkfs.com.

About the Black Knight Home Price Index

The Black Knight HPI is one of the most complete and accurate measures of home prices available, providing essential micro-level valuation data by covering nearly 90 percent of U.S. residential properties at the ZIP-code level. The Black Knight HPI provides the most timely updates possible, without the disruptive volatility of frequent historical revisions, for ZIP codes, cities, counties, states, the nation and statistical areas as defined by the White House Office of Management and Budget.

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 capture home price data from both disclosure and non-disclosure states. Each month the Black Knight HPI reports five price levels (quintiles), along with REO discount rates for each of 18,000+ U.S. ZIP codes. This level of detail is provided for three property groupings in every ZIP code: i) all residential properties, ii) condominiums, and iii) single-family housing. Black Knight's HPI is available with or without seasonal adjustments (numbers cited above are not seasonally adjusted).

About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE:BKFS) is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.

Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.

For more information:

Michelle Kersch                                                                                        
904.854.5043                                                                                         
michelle.kersch@bkfs.com 

Mitch Cohen 
646.546.5103
mitch@mprg.com 

 

Source: Black Knight Financial Services, Inc.
Categories: Press Releases
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