In what has become the least surprising news of the year, home prices have reached another peak.
According to a new Home Price Index report released by Black Knight Financial Services
, home prices were up 0.9 percent in June from the previous month and up 6.2 percent from the previous year. The $281,000 level set by the index represents a new high for measuring home prices.
Twelve of the 20 largest states and 21 of the 40 largest metros hit new home price peaks in June, Black Knight added. All 50 states saw monthly gains in their home prices, with the greatest appreciation in Michigan and Wisconsin with 1.9 and 1.8 percent increases, respectively. For the second month in a row, Nevada’s capital of Carson City saw the greatest metro appreciation, this time with a 2.2 percent rise in June. Detroit had the second highest appreciation among major metros, up 2.1 percent.