Black Knight Price Gains Remain Stable

Home price increases reported by Black Knight Financial Services based on November home sales were little changed from those reported for October.  The company said its nationwide Home Price Index (HPI) rose 0.2 percent from October, identical to the September-October change, and were 5.7 percent higher than in November 2015.  The year-over-year increase in November was 5.6 percent.    The HPI now stands at $267,000.

Prices are also up 5.7 percent from the beginning of 2016.  This increase brings U.S. home prices to within 0.3 percent of a new national price peak. Six of the 20 largest U.S. states and eight of its largest metropolitan areas established new price peaks during the month.

New York continues to lead all states in home price appreciation, growing 1.1 percent for the month.  New Jersey and Tennessee each posted a 0.9 percent gain.   It is the fifth straight month New York has led in this metric.  

New York City was the fastest appreciating metro with a 1.4 percent increase.  Florida and Tennessee together accounted for eight of the nine remaining best-performing metropolitan areas.  The tenth was Coeur d'Alene, Idaho.  All ten had increases of at least 0.7 percent.