Black Knight Financial Services' Data and Analytics division released its August 2015 Home Price Index report, finding that U.S. home prices were up 0 point 3 percent in August and up 5 point 5 percent year-over-year.
Many in the mortgage industry credit low mortgage rates, increased demand, and employment growth as the driving factors of the rise in home prices The HPI reached 253 thousand dollars in August and is now just 5 point 3 percent off its June 2006 peak of 268 thousand dollars. In addition, the HPI is up over 27 percent from the market's bottom in January 2012.
All-cash transactions comprised nearly 31 percent of all single-family residential home sales nationwide in July 2015, marking a decline of more than three full percentage points year-over-year, according to CoreLogic cash sales data. With July’s decline, the cash sales share has fallen year-over-year every month since January 2013, a total of 31 consecutive months, according to CoreLogic. July 2015’s reported share of 30 point 8 percent was a dropoff from the share of 34 point 2 percent reported in July 2014.