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Another year, another round of housing data—and first out of the 2016 is the Data & Analytics division of Black Knight Financial Services Inc. (BKFS) with its Home Price Index (HPI) report based on October 2015 transactions.
According to Black Knight, the HPI stood at $254,000 in October, up 0.2 percent from September and up 5.5 percent from October 2014. New York State saw the fourth consecutive month of growth, with a 1.1 percent gain in October, while New York City tied with Reno, Nev., for the greatest metro area home price increase, with 1.2 percent each. At the other end of the spectrum, Connecticut experienced the most negative movement in October, with an HPI decline of 0.6 percent, while three of the state’s cities (Bridgeport, Norwich and Hartford) were among the metro areas with the worst home price declines.
But California scored the least successful HPI numbers among the states, with a 0.2 percent decline in home prices and with Bakersfield as the worst performing metro area, down 0.9 percent. Five California metro areas were among the nation’s 40 largest that saw home prices decline in October.