Black Knight: Home Prices See 5.3 Percent Annual Increase

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).