Black Knight Home Price Index Report: Monthly Rate of Appreciation Slows as U.S. Home Prices Gain 0.5 Percent in July, Year-Over-Year Growth Steady at 6.2 Percent
09/25/2017 | 09:01am EST
The rate of growth in year-over-year price appreciation stabilized in July after accelerating throughout every month of 2017
After hitting a high of 1.3 percent in March 2017, the rate of monthly appreciation has steadily slowed over subsequent months
New York home prices showed continued strength, leading all states in monthly appreciation at 1.8 percent and accounting for nine of the 10 best-performing metropolitan areas
Of the 20 largest states, only Virginia saw home prices pull back, with a 0.2 percent month-over-month decline from June
Among the nation’s 40 largest metros, home prices in Virginia Beach, Va., Los Angeles, Calif., and Washington, D.C, saw slight declines as well
Up 11.1 percent since the start of 2017, the HPI for the San Jose, Calif., metro area has now topped $1,000,000
11 of the 20 largest states and 20 of the 40 largest metros hit new home price peaks in July
JACKSONVILLE, Fla, Sept. 25, 2017 (GLOBE NEWSWIRE) -- Today, the Data & Analytics division of Black Knight Financial Services, Inc. (NYSE:BKFS) released its latest Home Price Index (HPI) report, based on July 2017 residential real estate transactions. The Black Knight HPI utilizes repeat sales data from the nation’s largest public records data set, as well as its market-leading, loan-level mortgage performance data, to produce one of the most complete and accurate measures of home prices available for both disclosure and non-disclosure states. Non-disclosure states do not include property sales price information as part of their publicly available county recorder data. Black Knight is able to obtain the sales price information for these states by combining and matching records across its unique data assets.
Each month the Black Knight HPI reports five price levels (quintiles), along with REO discount rates, for 18,000+ U.S. ZIP codes. Findings are available with or without seasonal adjustments, although all numbers that follow have not been seasonally adjusted.
For more information about gaining access to Black Knight's full HPI dataset for your business, please send an email to email@example.com.
About the Black Knight Home Price Index
The Black Knight HPI is one of the most complete and accurate measures of home prices available, providing essential micro-level valuation data by covering nearly 90 percent of U.S. residential properties at the ZIP-code level. The Black Knight HPI provides the most timely updates possible, without the disruptive volatility of frequent historical revisions, for ZIP codes, cities, counties, states, the nation and statistical areas as defined by the White House Office of Management and Budget.
The Black Knight HPI utilizes repeat sales data from the nation's largest public records data set as well as its market-leading loan-level mortgage performance data to capture home price data from both disclosure and non-disclosure states. Each month the Black Knight HPI reports five price levels (quintiles), along with REO discount rates for each of 18,000+ U.S. ZIP codes. This level of detail is provided for three property groupings in every ZIP code: i) all residential properties, ii) condominiums, and iii) single-family housing. Black Knight's HPI is available with or without seasonal adjustments (numbers cited above are not seasonally adjusted).
About Black Knight Financial Services, Inc. Black Knight Financial Services, Inc. (NYSE:BKFS) is a leading provider of integrated software, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class software, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.