U.S. home prices increased 1.2% in March compared with February and increased 5.3% compared with March 2015, according to Black Knight Financial Services’ home price index report.
The average price for a single-family home was $257,000, an increase of 29.0% from the market’s bottom and just 3.8% off the June 2006 peak of $268,000, according to the report.
Strong upward monthly price movement was observed in many metro areas, with the top 10 movers all seeing at least 2.0% growth or higher.
All states and metro areas experienced positive price movement in March, with four of the 20 largest states and 12 of the 40 largest metros hitting new peaks.
States that saw the most home price appreciation in March included Washington (2.2%), Illinois (1.9%), Oregon (1.9%), Colorado (1.9%) and Michigan (1.8%).
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