U.S. home prices increased 0.1% in January compared with December and increased 5.4% compared with January 2016, according to Black Knight Financial Services’ home price index report.
It was the 57th consecutive month that home prices increased.
The average home price in the U.S. was $266,000, which is just 0.3% away from the peak set in 2006.
New York continued to lead the states in terms of home price appreciation. It was the seventh consecutive month that New York saw its average home price increase. What’s more, New York’s rate of appreciation was more than double that of the other top states.
The top five states for home price appreciation, month over month, in January were New York (1.3%), Hawaii (0.6%), New Jersey (0.6%), Washington (0.6%) and Maine (0.5%).