Black Knight: Home Prices Increased 0.2% In October

Posted by Patrick Barnard on January 04, 2016 No Comments
Categories : Residential Mortgage

U.S. home prices increased 0.2% in October compared with September and increased 5.5% compared with October 2014, according to Black Knight Financial Services' home price index (HPI) report.

The average price for a home reached $254,000, which is just 5.3% below the peak seen in June 2006.

What's more, it is an increase of 26.9% compared with the market's bottom in January 2012.

States that saw the biggest gains in home prices in October compared with September included New York (1.1%), Nevada (0.8%), Utah (0.8%), South Carolina (0.7%) and New Jersey (0.7%).

States that saw the least home price appreciation in October included Connecticut (-0.6%), Minnesota (-0.5%), Ohio (-0.3%), California (-0.2%) and Missouri (-0.2%).

In early December, CoreLogic released its October HPI report, showing that U.S. home prices, including distressed sales, increased 1.0% compared with September and increased 6.8% compared with October 2014.

In addition, the S&P/Case-Shiller HPI, which was released last week, shows that U.S. home prices increased 0.8% on an adjusted basis in October compared with September and increased 4.9% compared with October 2014.

All three reports use slightly different methodologies to arrive at their estimates.

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