U.S. Home Prices Up 1.2 Percent for the Month; Up 5.3 Percent Year-Over-Year

U.S. Home Prices Up 1.2 Percent for the Month; Up 5.3 Percent Year-Over-Year

U.S. Home Prices Up 1.2 Percent for the Month; Up 5.3 Percent Year-Over-Year

– At $257K, the U.S. HPI is up 29 percent from the market’s bottom and is just 3.8 percent off the June 2006 peak of $268K

– Washington again led all states with 2.1 percent appreciation, followed by Illinois, Oregon and Colorado, all at 1.9 percent

– Strong upward monthly price movement was observed in many metro areas, with the top 10 movers all seeing at least 2.0 percent growth or higher

– All states and metro areas experienced positive price movement in March, with four of the 20 largest states and 12 of the 40 largest metros hitting new peaks

Today, the Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) released its latest Home Price Index (HPI) report, based on March 2016 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 a more in-depth review of this month’s home price trends, including detailed looks at average home prices in the 20 largest states and 40 largest metros, please download the full Black Knight HPI Report at http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/HPINow.aspx

United States HPI:

$257K

Change from Last Month:

1.2%

Change from Last Year:

5.3%

Change from Peak: 

-3.8%

Largest States’ HPI Changes from Last Month (Ranked by Population)

California

1.2%

Texas

0.9%

Florida

1.2%

New York

0.8%

Illinois

1.9%

Pennsylvania

0.5%

Ohio

1.1%

Georgia

1.5%

North Carolina 

0.9%

Michigan 

1.8%

Largest Metros’ HPI Changes from Last Month (Ranked by Population)

New York, NY

0.7%

Los Angeles, CA

1.0%

Chicago, IL

2.0%

Dallas, TX 

1.0%

Houston, TX

0.8%

Philadelphia, PA

0.8%

Washington, D.C.

1.2%

Miami, FL

1.2%

Atlanta, GA

1.7%

Boston, MA 

1.1%

Top 10 Movers, State-Level

Washington

2.1%

Illinois 

1.9%

Oregon 

1.9%

Colorado 

1.9%

Michigan 

1.8%

Utah 

1.5%

Georgia 

1.5%

Iowa 

1.5%

North Dakota

1.5%

Minnesota

1.4%

Top 10 Movers, Metro-Level

Seattle, WA

2.2%

Boulder, CO

2.2%

Portland, OR

2.2%

Walla Walla, WA

2.1%

Spokane, WA

2.1%

San Jose, CA

2.1%

Denver, CO

2.0%

Chicago, IL

2.0%

Mount Vernon, WA

2.0%

Muskegon, MI

2.0%

To download the full Black Knight HPI Report, visit http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/HPINow.aspx

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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