Black Knight: Home prices tick up slightly in February

Modest monthly gain the best since June 2014

U.S. home prices were up 0.7% for the month in February, and rose 4.6% from last year, according to the latest home price index report from Black Knight Financial Services.

This was the largest monthly gain in national home prices since June 2014.

At $242,000, the national level HPI is now just 9.5% off its June 2006 peak of $268,000.

The report also found that home prices in three of the nation’s 20 largest states – Colorado, New York and Texas – hit new highs in February.

Of the nation’s 40 largest metros, nine hit new peaks – Austin, TX; Columbus, OH; Dallas, TX; Denver, CO; Honolulu, HI; Houston, TX; Nashville, TN; San Antonio, TX; and San Jose, CA.

Colorado leads the 20 largest states tracked by the Black Knight HPI at 9.4% Y/Y growth.

Of the 20 largest states, Connecticut, Massachusetts, New Jersey and Pennsylvania all saw prices decline in February; only Connecticut saw a yearly decline.

Las Vegas continues to lead the 40 largest metro areas in distance from its pre-crisis peak; home prices there remain almost 41% off their May 2006 highs.

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