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Black Knight HPI: Appreciation Remains Steady as U.S. Home Prices Gain 0.27 Percent in November, Up 6.44 Percent Year-Over-Year

January 29, 2018
  • After 67 consecutive months of annual appreciation, U.S. home prices reached another new peak at $283K
  • At the national level, home prices have now gained 6.49 percent growth since the start of 2017
  • New York led all states in monthly appreciation with home prices there rising 1.36 percent from October
  • Together, New York and Florida accounted for seven of the month’s 10 best-performing metros
  • Dover, Del., led all metropolitan areas with 2.11 percent growth, while Canton, Ohio, home prices saw the greatest drop of any metro area, falling 2.24 percent from October
  • Though Las Vegas, Nev. has gained nearly 13 percent year-over-year and 93 percent from the market’s bottom, it remains 25 percent off its 2006 peak
  • Home prices fell in six of the nation’s 20 largest states; Wisconsin saw the largest decline at -0.37 percent
  • Ten of the 20 largest states and 12 of the 40 largest metros hit new home price peaks in November

JACKSONVILLE, Fla., Jan. 29, 2018 (GLOBE NEWSWIRE) -- Today, The Data & Analytics division of Black Knight, Inc. (NYSE:BKI) released its latest Home Price Index (HPI) report, based on November 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:    $283K
Change from Last Month:            0.27%
Change from Last Year:  6.44%
Change from Peak:    0.0%

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

California:                                    0.44%
Texas:      0.10%
Florida:    0.57%
New York:    1.36%
Illinois:    -0.15%
Pennsylvania:  0.02%
Ohio:  -0.31%
Georgia:      0.11%
North Carolina:  0.28%
Michigan:  -0.05%

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

New York, NY:                          1.04%
Los Angeles, CA:    0.43%
Chicago, IL:  -0.13%
Dallas, TX:  0.21%
Houston, TX:    0.04%
Philadelphia, PA: 0.56%
Washington D.C.:  0.01%
Miami, FL:  0.41%
Atlanta, GA:    0.06%
Boston, MA: 0.32%

Top 10 Movers, State-Level 

New York:                                1.36%
Nevada: 0.76%
Vermont:  0.66%
Arizona:    0.63%
Utah:    0.62%
Idaho:  0.59%
Florida:  0.57%
Tennessee: 0.56%
Colorado: 0.53%
California: 0.44%

Top 10 Movers, Metro-Level

Dover, DE:            2.11%
San Jose, CA:  1.52%
Albany, NY:  1.32%
Elmira, NY:  1.31%
Ithaca, NY:    1.25%
Kingston, NY:  1.21%
Ocala, FL:  1.20%
Homosassa Springs, FL: 1.14%
Lakeland, FL:    1.11%
Santa Rosa, CA:  1.10%

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

Black Knight is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the homeownership lifecycle.

As a leading fintech, Black Knight is committed to being a premier business partner that clients rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insights with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight, please visit www.blackknightinc.com.

For more information:

Michelle Kersch                      Mitch Cohen 
904.854.5043  704.890.8158
michelle.kersch@bkfs.com  mitch.cohen@bkfs.com

 

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Source: Black Knight, Inc.
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