Black Knight: Home Prices Inched Up Slightly In November

Posted by Patrick Barnard on January 25, 2016 No Comments
Categories : Mortgage Servicing

U.S. home prices increased 0.1% in November compared with October and were 5.5% higher compared with November 2014, according to Black Knight Financial Services’ home price index report.

The average price of an existing single-family home in November was $253,000, which is just 5.3% below the peak of $268,000 in June 2006.

What’s more, home prices were up 27% from the market’s bottom in January 2012.

States that saw the most home price appreciation, month over month, in November included New York (up 1.2%), South Carolina (up 0.6%), Oregon (up 0.5%), New Mexico (up 0.5%) and North Carolina (0.5%).

States that saw least appreciation included Ohio (-0.4%), Connecticut (-0.4%), New Hampshire (-0.3%), Wisconsin (-0.3%) and Virginia (-0.3%).

Ohio and Connecticut topped the list of 10 most negative price movements among the states.

California home prices decreased for the second straight month, although seasonally adjusted numbers suggest continued but slowing growth for the state.

New York City was the best performing city in terms of home price appreciation in November, with a 1.0% month-over-month increase.

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