Home Price Index Report: Idaho leads upward movementJul 26th, 2016 | By Sarah Glenn | Category: Real Estate
Idaho led the nation in home price growth in May, according to the Black Knight Home Price Index. Idaho saw 1.9 percent growth for the month, followed by North Dakota at 1.8 percent.
Looking at the metro-level view, Idaho Falls was the third biggest mover with a 2 percent increase since April. Several other Idaho cities made the top 10 biggest metro-area movers list. Lewiston was fifth with a 2 percent growth rate, Pocatello was sixth with 1.9 percent growth, and Coeur d’Alene was ninth with a 1.9 percent growth rate.
When it came to rising home prices, Mountain states dominated the month’s top-performing metro areas. Cheyenne, Wyoming was no. 1 on the metro movers list with a 2.1 percent home price growth rate.
Home prices in these areas grew faster than the national average, according to the report. U.S. home prices were up 1.1 percent for the month and up 5.4 percent year-over-year.
Of the 20 largest states and 40 largest metros, only Missouri and the St. Louis metropolitan area registered year-over-year declines in home prices
Currently, the U.S. Home Price Index sits at $263,000 for the average home. That HPI is up 31.7 percent from the market’s bottom and is just 1.8 percent off the June 2006 peak.
The Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) released its latest Home Price Index (HPI) report on July 25, based on May 2016 residential real estate transactions. The Black Knight HPI uses 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.
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