Monday, November 28, 2016

Black Knight: House Price Index up 0.1% in September, Up 5.4% year-over-year

by Bill McBride on 11/28/2016 08:53:00 AM

Note: I follow several house price indexes (Case-Shiller, CoreLogic, Black Knight, Zillow, FHFA, FNC and more). Note: Black Knight uses the current month closings only (not a three month average like Case-Shiller or a weighted average like CoreLogic), excludes short sales and REOs, and is not seasonally adjusted.

From Black Knight: Black Knight Home Price Index Report: September 2016 Transactions, U.S. Home Prices Up 0.1 Percent for the Month; Up 5.4 Percent Year-Over-Year 

• September’s home price movement was relatively flat at the national level, with home prices ticking up just 0.1 percent from August

• U.S. home prices are up 5.4 percent from last year and are now within just 0.6 percent of hitting a new national peak

• Home prices in seven of the nation’s 20 largest states and seven of the 40 largest metros hit new peaks
The year-over-year increase in this index has been about the same for the last year.

Note that house prices are close to the bubble peak in nominal terms, but not in real terms (adjusted for inflation).  Case-Shiller for September will be released tomorrow.