Black Knight Financial Services released its most recent Home Price Index Report showing that prices were on the rise again with a 1.3% gain for the month of March and was up 5.8% year-over-year to hit another new peak in 2017.
The current national median home price index is at $272,000 for March 2017, marking a 2.3% gain in home prices since the beginning of the year.
Home prices in eight of the nation’s 20 largest states and 15 of the 40 largest metros hit new peaks in March.
Washington saw the most appreciation for the second month in a row, with home prices there increasing 2.2% from February.
Of the nation’s 40 largest metros, 15 hit new peaks – Austin, TX; Boston, MA; Charlotte, NC; Columbus, OH; Dallas, TX; Denver, CO; Houston, TX; Kansas City, MO; Los Angeles, CA; Nashville, TN; Portland, OR; San Antonio, TX; San Francisco, CA; San Jose, CA; and Seattle, WA. The 10 best-performing metros all saw monthly price gains of two percent or higher. The nation’s top metropolitan area for monthly appreciation was San Jose, Ca. with 2.6%, followed by Seattle at 2.4%.
The 10 best-performing metros all saw monthly price gains of two percent or higher. The nation’s top metropolitan area for monthly appreciation was San Jose, Ca. with 2.6%, followed by Seattle at 2.4%.
Three metropolitan areas have seen home prices rise by five percent or more since the start of the year: San Francisco (5.0%); Seattle (5.9%); and San Jose, Calif. (6.4%).
Prices dropped another 4.5% in Tuscaloosa, Alabama making it the worst market in the country. Tuscaloosa experienced a 17% decline year-to-date, and its fourth consecutive month as the country’s worst-performing metropolitan area.
Here is a full copy of the report from Black Knight Financial Services.BKFS_HPI_Mar2017_Report