by Bill McBride on 3/27/2017 07:01:00 AM
Monday, March 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 - 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 DecemberThe year-over-year increase in this index has been about the same for the last year.
• 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
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.