Monday, March 27, 2017

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

by Bill McBride on 3/27/2017 07:01:00 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 - January 2017 Transactions: U.S. Home Prices Up 0.1 Percent for the Month; Up 5.4 Percent Year-Over-Year

• U.S. home prices at the start of 2017 continued the trend of incremental monthly gains, rising 0.1 percent from December

• January marks 57 consecutive months of annual national home price appreciation

• Home prices in three of the nation’s 20 largest states and nine 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 (just 0.3% below), but not in real terms (adjusted for inflation).  Case-Shiller for January will be released tomorrow.