Home Prices Ended 2017 on the Rise

Phil Hall

Feb 26, 2018

Sales of new single-family houses in April 2018 were at a seasonally adjusted annual rate of 662,000

Although 2017 is already in the history books, a new data report is giving a final look at last year’s housing market.

According to statistics released by Black Knight Inc., home prices closed last year 6.6 percent higher on a year-over-year basis; on a month-over-month basis, home prices were up 0.10 percent from November. December marked the 68th consecutive month of annual home price appreciation. The median home price for December was $283,000.

New York again led the states in monthly gains, with home prices up 1.71 percent over last month, while Ohio experienced the most negative movement, with home prices there falling 1.13 percent from November, and accounting for seven of the nation’s 10 worst-performing metros of the month. Home prices hit new peaks in six of the nation’s 20 largest states but were down in nine other states.

Furthermore, 11 of the 40 largest metros saw new home price peaks in December as prices dropped in in another 20 markets. The greatest gains were recorded in Dover, Del. (up 1.95 percent), Spokane, Wash. (up 1.39 percent), New York City (up 1.25 percent), San Jose (up 1.13 percent) and Binghamton, N.Y. (up 1.13 percent).

Link copied

Published

Feb 26, 2018

Community

Nominations Open for Lone Star LO Magazine's Mortgage Masters

Lone Star LO Magazine is looking to recognize the originators who have mastered their craft.

2023 has been a year like no other. You're working hard and getting it done. It's time to celebrate your achievements. Nominate yourself or someone you know to be recognized in Lone Star LO Magazine's inaugural class of Mortgage Masters. Lone Star LO Magazine is l...

Analysis and Data

Home Prices Continue To Rise

Both FHFA, S&P CoreLogic Case-Shiller indexes show year-over-year, month-over-month increases.

Two different indexes released Tuesday show that home prices continue to increase. The Federal Housing Finance Agency (FHFA) House Price Index showed that prices nationwide in the first quarter of 2023 were up 4.3% from the same quarter a year earlier. It was the 45th-cons...