Price Gains Accelerating Again -Black Knight

Home prices rose 1.0 percent in April.  Black Knight Financial Services said its HomernPrice Index for the month was at $248,000 compared to $245,000 in March.  The HPI posted a +4.9 percent change fromrnApril 2014 when it stood at $236,000.</p

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Nationally the HPI is now within 7.6rnpercent of the peak value it reached in July 2006 of 268,000.  Several states have already established newrnhigh-water marks for prices including Colorado and Texas which have done sornnearly monthly for over a year.  In Aprilrnboth New York and Tennessee also set new price peaks.  Among the largest metropolitan areas Austin, Dallas, Houston, and San Antonio all hitrnnew peaks along with Columbus, Ohio, Denver, Honolulu, Nashville, San Franciscornand San Jose.   Both Boston and Portland,rnOregon are now less than 0.75 percent away from doing so as well. rn</p

Prices as measured by the HPI went up in every state fromrnMarch to April, led by Washington with a 2.0 percent gain.  Michigan and Colorado followed, each at 1.7rnpercent, Oregon at 1.6 percent, and both Minnesota and the District of Columbiarnat 1.3 percent.  The smallest gains werernin Arkansas (0.2 percent), Florida (0.4 percent), North Carolina and Virginiarn(each at 0.5 percent) and two states, Georgia and Missouri, at 0.6 percent. </p

Seattle ledrnmetro areas withrn2.2 percent growthrnfrom March. Detroit, SanrnJose, and Ft Collins, Colorado all saw home prices rise by 2.0rnpercent. </p

BlackrnKnight uses a repeat sales analysis of home prices based on its property andrnloan-level databases for transactions in more than 18,500 ZIP codes.  It represents the price of non-distressedrnsales by taking into account price discounts of lender-owned property (REO) andrnshort sales.

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