Home prices rose 0.7% in February from the month before and 5.3% from the same month a year earlier, Black Knight Financial Services, Inc. (NYSE: BKFS) reported on Monday. Among the highlights:
- At $254K, the U.S. HPI is up 27.5% from the market's bottom, but remains 5% off the June 2006 peak of $267K
- Strong upward monthly price movement observed in many states and metro areas; California, Colorado and Washington showed particular strength.
The Black Knight HPI utilizes repeat sales data from the nation's largest public records data set, as well as its 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. Non-disclosure states do not include property sales price information as part of their publicly available county recorder data. Black Knight is able to obtain the sales price information for these states by combining and matching records across its unique data assets.