Yes, Home Prices Are Up Again

Oct 31, 2016

Home prices in August rose 0.3 percent from July and 5.3 percent on a year-over-year basis, according to the latest Home Price Index report from Black Knight Financial Services (BKFS). August marked the 52nd consecutive month of year-over-year home price appreciation.

Black Knight recorded the average home price in the U.S. at $266,000 in August, only 0.7 percent shy of a new national peak. But not every market saw home price appreciation: nine states recorded a negative price movement from July to August, with five states—Connecticut, Missouri, North Dakota, South Dakota and Virginia—tied in a 0.3 percent downward movement.

New York led the states with the greatest home price gains at a 1.4 percent upswing, and nine of the 10 best-performing metro markets during August were located in the Empire State. New York was also among nine states to hit new home price peaks in August.

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Phil Hall

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Oct 31, 2016

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