Monday, April 24, 2017

Black Knight: House Price Index up 0.8% in February, Up 5.7% year-over-year

by Bill McBride on 4/24/2017 07:00:00 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: U.S. Home Prices Hit New Peak in February, Rising 0.8 Percent for the Month, Up 5.7 Percent Year-Over-Year

• Nationally, home prices rose 0.8% for the month and gained 5.7% on a year-over-year basis

• U.S. home prices hit a new, post-crisis high in February, with the national HPI hitting $268K, surpassing the previous peak set in June 2006

• February marked 58 consecutive months of annual national home price appreciation

• Home prices in six of the nation’s 20 largest states and 14 of the 40 largest metros hit new peaks in February
The year-over-year increase in this index has been about the same for the last year.

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