Black Knight Home Price Index Report: August Transactions -- U.S. Home Prices Up 0.3 Percent for the Month; Up 5.5 Percent Year-Over-Year
-- At $253K, U.S. HPI is now just 5.3 percent off June 2006 peak of $268K, and up 27 percent from the market's bottom
-- New York led all states at 1.8 percent monthly appreciation and accounted for all 10 top metro-area movers
-- New York, Tennessee and Texas hit new peaks again in August
-- Illinois saw the most negative movement and accounted for 7 of the 10 worst-performing metro areas
-- After 11 consecutive months of new peaks, San Jose, Calif., backed off this trend with a 0.4 percent decline
-- Nine of the nation's 40 largest metro areas hit new peaks in August
JACKSONVILLE, Fla., Oct. 26, 2015 /PRNewswire/ -- Today, the Data & Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) released its latest Home Price Index (HPI) report, based on August 2015 residential real estate transactions in the United States. The Black Knight HPI combines the company's extensive property and loan-level databases to produce a repeat sales analysis of home prices as of their transaction dates every month for each of more than 18,500 U.S. ZIP codes. The Black Knight HPI represents the price of non-distressed sales by taking into account price discounts for REO and short sales.
For a more in-depth review of this month's home price trends, including detailed views of results from 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
| Note: All dollar figures are in thousands. |
|
| United States HPI: |
$253 |
| Change from Last Month: |
0.3% |
| Change from Last Year: |
5.5% |
| Change from Peak: |
-5.3% |
| Largest States' HPI Changes from Last Month (Ranked by Population) |
|
| California: |
0.1% |
| Texas: |
0.7% |
| Florida: |
0.6% |
| New York: |
1.8% |
| Illinois: |
-0.5% |
| Pennsylvania: |
0.0% |
| Ohio: |
-0.1% |
| Georgia: |
0.0% |
| North Carolina: |
0.0% |
| Michigan: |
0.1% |
| Largest Metros' HPI Changes from Last Month (Ranked by Population) |
|
| New York, NY: |
1.3% |
| Los Angeles, CA: |
-0.2% |
| Chicago, IL: |
-0.4% |
| Dallas, TX: |
0.8% |
| Houston, TX: |
0.6% |
| Philadelphia, PA: |
0.1% |
| Washington D.C.: |
-0.2% |
| Miami, FL: |
0.6% |
| Atlanta, GA: |
0.0% |
| Boston, MA: |
0.4% |
| Top 10 Movers, State-Level |
|
| New York: |
1.8% |
| New Hampshire: |
0.7% |
| Texas: |
0.7% |
| Nevada: |
0.6% |
| Florida: |
0.6% |
| Utah: |
0.5% |
| Montana: |
0.5% |
| New Jersey: |
0.5% |
| Louisiana: |
0.5% |
| Wyoming: |
0.5% |
| Top 10 Movers, Metro-Level |
|
| Utica, NY: |
1.9% |
| Glens Falls, NY: |
1.9% |
| Watertown, NY: |
1.9% |
| Binghamton, NY: |
1.8% |
| Syracuse, NY: |
1.7% |
| Ithaca, NY: |
1.7% |
| Kingston, NY: |
1.7% |
| Elmira, NY: |
1.6% |
| Rochester, NY: |
1.6% |
| Buffalo, NY: |
1.5% |
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 home price sources available. It summarizes sales concluded during each month using a repeat sales analysis of home prices as of their transaction dates. Each month for each of more than 18,500 U.S. ZIP codes, the Black Knight HPI reports five price levels (quintiles) along with REO discount rates for each ZIP code, which are used in the HPI calculations to correct for the impact on estimates of open-market prices that REO sale prices would have. 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. Home prices are available with or without seasonal adjustments.
The Black Knight HPI provides aggregates of all these values for larger geographies than ZIP codes: cities, counties, states, the nation and statistical areas defined by the White House Office of Management and Budget. The five historical paths of price levels can be easily used to find price paths of intermediate prices. By combining property and loan data in its repeat sales analysis, the Black Knight HPI covers about 89 percent of single-family residential properties in the U.S. The innovative approach used to maximize geographical resolution enables the Black Knight HPI to meaningfully cover about 98 percent of these properties at the ZIP-code level.
In this press release the value and appreciation of the HPI reported is calculated assuming the entire stock of properties within each geography.
The Black Knight HPI provides the financial industry with the most accurate valuations available from an HPI -- accuracies competitive with AVMs in out-of-sample tests. The Black Knight HPI is also the most accurately timed home-price information available -- detecting market changes sooner than other HPIs.
About Black Knight Financial Services, Inc.
Black Knight Financial Services, Inc. (NYSE: BKFS), a Fidelity National Financial (NYSE:FNF) company, is the mortgage and finance industries' 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 the 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.
SOURCE Black Knight Financial Services, Inc.
Share this article