Black Knight: June home prices rose 0.9% from May

That’s a 4.9% increase since the start of 2015

Home prices rose 0.9% in June from May and 5.1% since June 2014, according to the new home price report from Black Knight Financial Services.

The Black Knight HPI combines the company’s extensive property and loan-level databases to produce a repeat sales analysis of home prices as of their transaction dates every month for each of more than 18,500 U.S. ZIP codes.

This puts national home prices up 4.9% since the start of the year and up over 26% since the bottom of the market at the start of 2012.
At $252,000, the national level HPI is now just 5.8% off its June 2006 peak of $268,000.

Michigan led gains among the states, seeing 1.9% month-over-month appreciation, followed by Colorado at 1.4%.
In a sign of the month’s overall positivity, even the lowest performing state – West Virginia – registered flat, rather than negative, movement in June.

Among all the nation’s metros tracked by the Black Knight HPI, Reno, NV saw the greatest monthly appreciation at 2.6%.

Click to enlarge

(Source: Black Knight)

Sierra Vista, Arizona, was the only metro area to mark negative month-over-month movement, with home prices there declining 0.1% from May.
Meanwhile, Indiana, New York, Tennessee and Texas all hit new peaks in June. California home prices have now risen over 50% since the national market bottom.

Among the nation’s largest states, Arizona and Michigan follow, with roughly 39% growth from the trough. As of June, home prices in San Francisco and San Jose are over 70% higher than they were at the market’s bottom. Las Vegas home prices, while up nearly 60% from the national trough, are still almost 40% off their May 2006 peak.

Of the nation’s 40 largest metros, 13 hit new peaks in June:

  • Austin, TX ($282K)
  • Boston, MA ($406K)
  • Columbus, OH ($185K)
  • Dallas, TX ($215K)
  • Denver, CO ($323K)
  • Houston, TX ($218K)
  • Kansas City, MO ($173K)
  • Nashville, TN ($217K)
  • Pittsburgh, PA ($187K)
  • Portland OR ($310K)
  • San Antonio, TX ($193K)
  • San Francisco, CA ($715K)
  • San Jose, CA ($862K)

Click here for the full report.

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