Black Knight Financial Services recently released its February 2016 residential real estate transactions report, the Home Price Index (HPI). The report found that national home prices in February were up 5.3 percent on an annual basis and increased 0.7 since January.

Black Knight Financial Services recently released its February 2016 residential real estate transactions report, the Home Price Index (HPI). The report found that national home prices in February were up 5.3 percent on an annual basis and increased 0.7 since January.

Other notable points of the report include:

  • The U.S. HPI was reported at $254,000 — up 27.5 percent from the market’s bottom but 5 percent off the June 2006 peak of $267,000
  • Home prices in New York, Tennessee and Texas all hit new peaks in February
  • San Jose led metro areas with 2.4 percent price growth from January, followed by Seattle at 2.1 percent
  • Connecticut, Rhode Island and New Jersey were the only states to see negative price movement in February, accounting for seven of the ten worst performing metro areas
  • Of the nation’s 40 largest metros, Austin, Dallas, Denver, Houston, Kansas City, Nashville, Portland, San Antonio, San Francisco and San Jose all hit new peaks

Black Night HPI, February 2016

The Pacific Coast and Colorado stacked the list of biggest metro movers, with every metro in the top 10 hailing from California, Colorado, Oregon or Washington.

The East Coast tells an opposite story: Every metro in the bottom ten came from Connecticut, Massachusetts, New Jersey or Rhode Island.

Black Night HPI, February 2016

Although many people think of luxury and opulence when thinking about Miami, the metro’s HPI was only 7.8 percent, or $20,000, higher than the national average. The city’s housing market continues to rebound from the recession, though, with an HPI increasing 51 percent since 2012.

Screen Shot 2016-05-04 at 10.05.34 PM

 

Homes in the rest of Florida aren’t receiving as high appraisals as The Magic City, carrying an HPI of $221,000. The state’s housing market has obviously seen worse, as Black Night puts home values at 40.5 percent higher than they were in 2012.

Black Night HPI FLA 2016

Black Night HPI FLA 2016

Florida still has room to improve if it’s ever going to reach the market peak of 2006, when the state’s average HPI sat at $294,000. Steady growth continues, however, with values rising 7.8 percent year-over-year and getting a slight bump in February.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Hear from Realogy, Pacaso, SERHANT., Spotify, Redfin, Douglas Elliman, and 100+ more leaders at ICNY.Register now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription