Black Knight: U.S. Home Prices Rose 0.7% In February

Posted by Patrick Barnard on April 27, 2015 No Comments
Categories : Residential Mortgage

U.S. home prices increased 0.7% in February compared to January and were up 4.6% compared to February 2014, according to Black Knight Financial Services' home price index (HPI) report.

The average home price for the month of February was $242,000, up from $241,000 in January. The slight increase brought the average home price to within 9.5% of the peak average of $268,000 recorded in June 2006.

States that saw the most home price appreciation in February, compared to January, included Washington (1.8%), California (1.5%), Oregon (1.4%), Colorado (1.3%) and Hawaii (1.2%).

States that saw the least home price appreciation in February included Connecticut (-0.6%), New Jersey (-0.5%), Vermont (-0.5%), Rhode Island (-0.2%) and New Hampshire (-0.2%).

Metropolitan areas that saw the most home price appreciation in February were San Jose, Calif. (3.2%); San Francisco (2.4%); Seattle (2.0%); Napa, Calif. (1.9%); and Santa Cruz, Calif. (1.8%).

Metropolitan areas that experienced the least home price appreciation included New Haven, Conn. (-1.3%); Atlantic City, N.J. (-0.9%); Torrington, Conn. (-0.9%); Worcester, Mass. (-0.8%); and Norwich, Conn. (-0.7%).

The report's findings are in line with the Federal Housing Finance Agency's monthly HPI, which shows that U.S. home prices rose 0.7% on a seasonally adjusted basis in February compared to January and were up 5.4% compared to February 2014.

It is also in line with CoreLogic's HPI, which shows that home prices nationwide, including distressed sales, increased about 1.1% in February compared to January and were up about 5.6% compared to February 2014.

It should be noted, however, that CoreLogic's HPI uses a slightly different methodology to arrive at its findings.

Register here to receive our Latest Headlines email newsletter

Leave a Comment

Black Knight: U.S. Home Prices Rose 0.7% In February

Posted by Patrick Barnard on April 28, 2014 No Comments
Categories : Residential Mortgage

U.S. home prices rose about 0.7% in February and are now more than 13.5% off from their June 2006 peak, according to Black Knight Financial Services' Home Price Index (HPI) report.

The nationwide average price of a home rose from $232,000 in January to about $233,000 in February. The peak average in June 2006 was $270,000.

States that saw the biggest month over month gains in price appreciation in February included Oregon (1.4%), Washington (1.4%), California (1.3%), Nevada (1.2%) and Hawaii (1.1%).

States that saw the slowest rate of price appreciation included Vermont (0.0%), Ohio (0.0%), Arkansas (0.1%), Massachusetts (0.2%) and New Jersey (0.2%).

For more, click here.

Register here to receive our Latest Headlines email newsletter

Leave a Comment