Black Knight Financial Services [1] released its Home Price Index (HPI) report for April 2017 [1] on Monday, which showed the national-level HPI at a record high of $275,000, an increase of 3.6 percent since the beginning of the year. Month-over-month change amounted to 1.2 percent and the year-over-year change was 6.0 percent.
That wasn’t the only record set in the April report—9 out of twenty reported states hit new peaks, and nearly half of the 40 reported metros hit new highs, including Atlanta, Georgia; Austin, Texas; Boston, Massachusetts; Charlotte, North Carolina; Cincinnati, Ohio; Dallas, Texas; Denver, Colorado; Houston, Texas; Kansas City, Missouri; Los Angeles, California; Nashville, Tennessee; Portland, Oregon; San Antonio, Texas; San Diego, San Fransisco, and San Jose, California; and Seattle, Washington. The only city which did not record any growth was Tuscaloosa, Alabama. That April marks the 5th straight month of depreciating home value, which fell 5.1 percent.
Washington State continues to have a booming housing market for a third month in a row, beating out all other states and serving as the home to 5 of the nations top 10 performing metros. The Seattle metro in particular recorded record-setting growth—home prices saw a gain of 8.4 percent since the beginning of the year and 2.3 percent appreciation since a month prior. Year-over-year Seattle’s market appreciated 13.6 percent. California boasted the highest average HPI at $505,000. Similarly, San Jose, California had the highest HPI out of the top 40 largest metros at $978,000
Dallas, Texas saw an impressive year-over-year change of 9.8 percent with a current HPI one $255,000. Portland, Oregon was close behind with a change of 9.6 percent, followed by Nashville, Tennessee with a year-over-year change of 9.3 percent. No metro reported an average HPI under $150,000.