Black Knight: U.S. Home Prices Inched Higher In July

Posted by Patrick Barnard on September 28, 2015 No Comments
Categories : Residential Mortgage

U.S. home prices increased 0.4% in July compared with June and were up 5.3% compared with July 2014, according to Black Knight Financial Services' home price index (HPI) report.

The average price for a single-family home in July was $253,000, which is about 5.5% below the June 2006 peak of $268,000 but up nearly 27% from the market's bottom.

New York saw the most home price appreciation in July, at 1.4%, while Indiana, Tennessee and Texas hit new peaks.

Black Knight's HPI represents the price of non-distressed sales by taking price discounts for real estate owned sales and short sales into account.

Earlier this month, CoreLogic released its HPI showing that home prices increased 1.7% in July compared with June and increased 6.9% compared with July 2014.

Excluding distressed sales, home prices increased 1.5% month over month and 6.7% year over year, according to CoreLogic.

The S&P/Case-Shiller HPI for July is due out later this week.

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