Black Knight: Home Prices Up in Every State

Jul 31, 2017

It was a November to remember for new home sales, according to data from the U.S. Census Bureau and the Department of Housing and Urban Development

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.

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Phil Hall

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Jul 31, 2017

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