Home Prices Peak Again
Home prices reached yet another record high in November by averaging at $238,000, according to new data from Black Knight Inc.
November’s record price was up 0.27 percent from October and up 6.44 percent year-over-year. November also marked the 67th consecutive month of annual appreciation.
Ten of the 20 largest states and 12 of the 40 largest metros hit new home price peaks in November, Black Knight added, with New York and Florida accounting for seven of the month’s 10 best-performing metros and Dover, Del., leading all metropolitan areas with 2.11 percent year-over-year growth. However, home prices fell in six of the nation’s 20 largest states, with Wisconsin recording the greatest decline, albeit at a relatively mild -0.37 percent. Among the major metro areas, Canton, Ohio, home prices saw the greatest drop, falling 2.24 percent from October.