Average home prices rose 1.2 percent in April and 6 percent year-over-year, according to Black Knight Financial Services’ Home Price Index (HPI).
According to Black Knight, there has been a 3.6 percent gain in home prices since the start of 2017, and the $275,000 national-level HPI is the highest it has ever been. The HPI also found that April was the 60th consecutive month of annual home price appreciation and Washington continues to outperform the nation.
During April, five of the 10 top performing metropolitan areas were in Washington. Seattle and Bellingham, Wash. saw home prices increase an average 2.3 percent during April. Since the start of the year, home prices in Seattle have appreciated 8.4 percent.
The HPI found nine states hit price peaks in April. They were Indiana ($153K); Massachusetts ($387K); New York ($374K); North Carolina ($209K); Pennsylvania ($224K); Tennessee ($196K); Texas ($237K); Washington ($367K); and Wisconsin ($192K).
Eighteen metropolitan areas hit price peaks in April. They were Atlanta ($217K); Austin, Texas ($316K); Boston ($450K); Charlotte, N.C. ($223K); Cincinnati, Ohio ($175K); Columbus, Ohio ($194K); Dallas ($255K); Denver ($384K); Kansas City, Mo. ($193K); Los Angeles ($640K); Nashville ($256K); Portland, Ore. ($380K); San Antonio ($213K); San Diego ($568K); San Francisco ($821K); San Jose, Calif. ($978K); and Seattle ($456K).