Real Estate

U.S. January 2016 home prices rise just 0.1%

Home prices now up 26.7% since 2012 low

January’s home prices rose slightly, 0.1% month-over-month and 5.3% yearly, according to the home price index report by Black Knight Financial Services.

The report considers repeat sales data and loan-level mortgage performance data to produce its measure of home prices available. Black Knight also uses data from non-disclosure states, states that do not include property sales price information as part of their public records, by combining and matching records across its data assets.

Click to Enlarge

Black Knight Jan 2016

(Source: Black Knight)

This increase is almost equivalent to December 2015’s increase from November with a monthly increase of .01% and an annual increase of 5.5%.

With a national HPI of $253 thousand, home prices are now just 5.4% below the June 2006 peak of $267 thousand, according to the report.

New York came out on top again with 0.9% month-over-month increase, and Illinois saw the most decrease at 0.4%.

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New York HPI Dec 2015

(Source: Black Knight)

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Illinois HPI Jan 2016

(Source: Black Knight)

Yet again, from the nations largest 20 states, two hit new peaks:

  • New York ($351K)
  • Texas ($217K)

Of the nation’s 40 largest metros, nine hit new peaks:

  • Austin, Texas ($287K)
  • Dallas, Texas ($220K)
  • Denver, Colorado ($327K)
  • Houston, Texas ($220K)
  • Kansas City, Missouri ($173K)
  • Nashville, Tennessee ($222K)
  • Portland, Oregon ($326K)
  • San Francisco, California ($728K)
  • San Jose, California ($867K)

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