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Black Knight Home Price Index Report: U.S. Home Prices Hit Another New High with 0.9 Percent Gain in June, Up 6.2 Percent Year-Over-Year

August 28, 2017

- The national-level HPI hit a new peak in June, marking a 5.5 percent gain in home prices since the start of 2017
- Year-over-year price appreciation continued to accelerate, with a 6.2 percent rise in home prices as compared to the same time last year
- All 50 states saw monthly gains in home prices; Michigan and Wisconsin led with 1.9 and 1.8 percent appreciation, respectively
- For the second consecutive month, Carson City, Nev., saw the greatest appreciation of all metropolitan areas with home prices there gaining 2.2 percent in June
- Among the nation’s 40 largest metros, Las Vegas, Nev., Nashville, Tenn. and Seattle, Wash. have all seen year-over-year gains of 10 percent or higher
- 12 of the 20 largest states and 21 of the 40 largest metros hit new home price peaks in June

JACKSONVILLE, Fla., Aug. 28, 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 June 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:       $281K
Change from Last Month:       0.9%
Change from Last Year:       6.2%
Change from Peak:       0.0%
          
Largest States’ HPI Changes from Last Month (Ranked by Population)         
          
California:       1.0%
Texas:       0.4%
Florida:       0.9%
New York:       1.7%
Illinois:       0.9%
Pennsylvania:       1.0%
Ohio:       1.3%
Georgia:       0.8%
North Carolina:       0.7%
Michigan:       1.9%
          
Largest Metros’ HPI Changes from Last Month (Ranked by Population)         
          
New York, NY:       1.5%
Los Angeles, CA:       0.8%
Chicago, IL:       0.9%
Dallas, TX:       0.5%
Houston, TX:       0.4%
Philadelphia, PA:       1.0%
Washington D.C.:       0.4%
Miami, FL:       1.0%
Atlanta, GA:       0.8%
Boston, MA:       1.1%
          
Top 10 Movers, State-Level         
          
Michigan:       1.9%
Wisconsin:       1.8%
New York:       1.7%
Vermont:       1.5%
New Hampshire:       1.4%
Rhode Island:       1.4%
Montana:       1.3%
Washington:       1.3%
Nevada:       1.3%
Ohio:       1.3%
          
Top 10 Movers, Metro-Level         
          
Carson City, NV:       2.2%
Detroit, MI:       2.1%
Ithaca, NY:       2.0%
Milwaukee, WI:       2.0%
Buffalo, NY:       2.0%
Racine, WI:       1.9%
Cleveland, OH:       1.9%
La Crosse, WI:       1.9%
Utica, NY:       1.8%
Flint, MI:       1.8%
          

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
646.926.7741
mitch@mprg.com

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Source: Black Knight Financial Services, Inc.
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