Home Prices Inch Closer to New Peak

U.S. home prices are within a mere 0.3 percent of reaching a new national peak, reports Black Knight Financial Services Inc. The firm’s latest Home Price Index, which reflects November 2016 residential real estate sales. The new study shows that home prices have risen 5.7 percent since the start of 2016.

Read more: Home Sales Soften on Inventory, Pricing Woes

Home prices reached new peaks in six of the country’s 20 largest states and eight of the 40 largest metros, the report read.

The following cities saw the largest growth in monthly home price appreciation in November 2016:

  • New York: 1.4%
  • Nashville, Tenn.: 1.1%
  • Cape Coral, Fla.: 1%
  • The Villages, Fla.: 0.9%
  • Knoxville, Tenn.: 0.9%
  • Lakeland, Fla.: 0.9%
  • Coeur d’Alene, Idaho: 0.8%
  • Kingsport, Tenn.: 0.8%
  • Ocala, Fla.: 0.7%
  • Palm Bay, Fla.: 0.7%

Source: “Report: Home Prices 0.3% Away From New Peak,” BUILDER (Jan. 30, 2017)

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