by Bill McBride on 2/27/2017 08:01:00 AM
Monday, February 27, 2017
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: December 2016 Transactions: U.S. Home Prices Up 0.1 Percent for the Month; Up 5.7 Percent Year-Over-Year
• U.S. home prices rose a total of 5.7 percent in 2016, having seen an average of 5.4 percent annual appreciation each month of the year, accelerating into the later monthsThe year-over-year increase in this index has been about the same (5% to 5.7% range) for the last year, although the index picked up a little at the end of 2016.
• December marks 56 consecutive months of annual national home price increases
• Home prices in four of the nation’s 20 largest states and seven of the 40 largest metros hit new peaks
Note that house prices are close to the bubble peak in nominal terms, but not in real terms (adjusted for inflation). Case-Shiller for December will be released tomorrow.