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
JACKSONVILLE, Fla., March 27, 2017 /PRNewswire/ --
- U.S. home prices at the start of 2017 continued the trend of incremental monthly gains, rising 0.1 percent from December
- New York continues to lead the states on a monthly basis, with prices rising 1.3 percent there in January, more than double the rate of appreciation of the next best-performing state
- The New York City metro area was the month's best-performing metro, with prices rising 1.3 percent, followed by Seattle and San Jose, each up 0.8 percent from December
- After home prices fell 3.2 percent last month, Tuscaloosa, Ala., was once again the worst-performing metro area in January; with prices falling another 4 percent in January, Alabama became the worst-performing state for the month
- Home prices in three of the nation's 20 largest states and nine of the 40 largest metros hit new peaks
Today, the Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) released its latest Home Price Index (HPI) report, based on January 2017 residential real estate transactions. The Black Knight HPI utilizes repeat sales data from the nation's largest public records data set, as well as its market-leading, loan-level mortgage performance data, to produce one of the most complete and accurate measures of home prices available for both disclosure and non-disclosure states. Non-disclosure states do not include property sales price information as part of their publicly available county recorder data. Black Knight is able to obtain the sales price information for these states by combining and matching records across its unique data assets.
Each month the Black Knight HPI reports five price levels (quintiles), along with REO discount rates, for 18,000+ U.S. ZIP codes. Findings are available with or without seasonal adjustments, although all numbers that follow have not been seasonally adjusted.
For a more in-depth review of this month's home price trends, including detailed looks at average home prices in the 20 largest states and 40 largest metros, please download the full Black Knight HPI Report at http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/HPINow.aspx
| United States HPI: |
$266K |
| Change from Last Month: |
0.1% |
| Change from Last Year: |
5.4% |
| Change from Peak: |
- 0.3% |
Largest States' HPI Changes from Last Month (Ranked by Population)
| California: |
0.4% |
| Texas: |
0.0% |
| Florida: |
0.2% |
| New York: |
1.3% |
| Illinois: |
-0.3% |
| Pennsylvania: |
0.0% |
| Ohio: |
0.1% |
| Georgia: |
-0.2% |
| North Carolina: |
-0.1% |
| Michigan: |
-0.4% |
Largest Metros' HPI Changes from Last Month (Ranked by Population)
| New York, NY: |
1.3% |
| Los Angeles, CA: |
0.5% |
| Chicago, IL: |
-0.2% |
| Dallas, TX: |
0.2% |
| Houston, TX: |
-0.3% |
| Philadelphia, PA: |
0.3% |
| Washington D.C.: |
-0.1% |
| Miami, FL: |
0.4% |
| Atlanta, GA: |
-0.1% |
| Boston, MA: |
0.4% |
Top 10 Movers, State-Level
| New York: |
1.3% |
| Hawaii: |
0.6% |
| New Jersey: |
0.6% |
| Washington: |
0.6% |
| Maine: |
0.5% |
| Nevada: |
0.5% |
| Kansas: |
0.5% |
| California: |
0.4% |
| Colorado: |
0.4% |
| South Dakota: |
0.4% |
Top 10 Movers, Metro-Level
| New York, NY: |
1.3% |
| Seattle, WA: |
0.8% |
| San Jose, CA: |
0.8% |
| Honolulu, HI: |
0.7% |
| San Diego, CA: |
0.7% |
| Bend, OR: |
0.7% |
| Buffalo, NY: |
0.7% |
| Flagstaff, AZ: |
0.6% |
| Carson City, NV: |
0.6% |
| Binghamton, NY: |
0.6% |
To download the full Black Knight HPI Report, visit http://www.bkfs.com/CorporateInformation/NewsRoom/Pages/HPINow.aspx
For more information about gaining access to Black Knight's full HPI dataset for your business, please send an email to [email protected].
About the Black Knight Home Price Index
The Black Knight HPI is one of the most complete and accurate measures of home prices available, providing essential micro-level valuation data by covering nearly 90 percent of U.S. residential properties at the ZIP-code level. The Black Knight HPI provides the most timely updates possible, without the disruptive volatility of frequent historical revisions, for ZIP codes, cities, counties, states, the nation and statistical areas as defined by the White House Office of Management and Budget.
The Black Knight HPI utilizes repeat sales data from the nation's largest public records data set as well as its market-leading loan-level mortgage performance data to capture home price data from both disclosure and non-disclosure states. Each month the Black Knight HPI reports five price levels (quintiles), along with REO discount rates for each of 18,000+ U.S. ZIP codes. This level of detail is provided for three property groupings in every ZIP code: i) all residential properties, ii) condominiums, and iii) single-family housing. Black Knight's HPI is available with or without seasonal adjustments (numbers cited above are not seasonally adjusted).
About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE: BKFS) is a leading provider of integrated technology, data and analytics solutions that facilitate and automate many of the business processes across the mortgage lifecycle.
Black Knight Financial Services is committed to being a premier business partner that lenders and servicers rely on to achieve their strategic goals, realize greater success and better serve their customers by delivering best-in-class technology, services and insight with a relentless commitment to excellence, innovation, integrity and leadership. For more information on Black Knight Financial Services, please visit www.bkfs.com.
| For more information: |
|
| Michelle Kersch |
Mitch Cohen |
| 904.854.5043 |
646.546.5103 |
SOURCE Black Knight Financial Services, Inc.
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