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Home prices in June were up 0.8 percent from May and up 5.3 percent from June 2015, according to new data from Black Knight Financial Services (BKFS). At $265,000, Black Knight’s Home Price Index is within 1.1 percent of reaching a new peak. June was also the 50th consecutive month that Black Knight recorded year-over-year home price appreciation.
Among the states, Michigan and Wisconsin experienced the strongest year-over-year home price gains, with respective increases of 1.6 percent and 1.5 percent. (+1.6 percent) and Wisconsin (+1.5 percent) led home price gains among the states. On a metro level, Nevada’s capital Carson City saw the greatest year-over-year appreciation with a 2.4 percent increase, followed by Cleveland with a 1.9 percent upswing.
Among the nation’s 20 largest states and 40 largest metros, only Missouri and the St. Louis metro area registered year-over-year declines in home prices during June. On a monthly measurement, two only metro areas to see negative movement were San Jose (down by 0.3 percent from a peak in May) and Naples, Fla. (down 0.4 percent).