Home prices in every state and the 40 largest metro areas increased in May, according to new data from Black Knight Financial Services
, which also determined that 11 of the 20 most-populous states and 20 of the 40 largest metros hit new home price peaks two months ago.
Black Knight’s Home Price Index for May reached $278,000, a 1.1 percent increase from April and a 6.1 percent rise from May 2016. Among the most populous states, New York saw the greatest year-over-year home price increase with a 1.4 percent uptick, while Dallas had the strongest upswing among the major metro areas with a 1.4 percent rise.
At a state-level, tiny Rhode Island had the biggest year-over-year home price spike with a 1.7 percent surge, while Spokane, Wash., and Carson City, Nev., each had a 1.9 percent increase to dominate the overall metro-level category.