After 16 months of declining annual home price appreciation, a new spark of upward movement was detected in July, according to data from Black Knight Inc.
Home prices last month inched up by 0.34 percent, increasing the annual home price growth rate to 3.9 percent. In the 16 previous months, annual home price growth rate had fallen from a peak of 6.75 percent in February 2018 to 3.7 percent in June.
Black Knight’s Home Price Index recorded year-over-year home price growth in all 50 states as well as 99 of the 100 largest U.S. housing markets. The one exception was the nation’s priciest housing market: San Jose recorded a 6.4 percent year-over-year decline.