All 50 states experienced increases in average home prices in June, with some large metropolitan areas seeing double digit year-over-year increases, according to the Black Knight Home Price Index (HPI).
During June, the HPI increased 0.9 percent from the previous month and rose 6.2 percent from June 2016. Since the start of 2017, average home prices have increased 5.5 percent, the HPI found.
Michigan (1.9 percent) and Wisconsin (1.8 percent) had the highest price appreciation in June. During the month, 12 of the 20 largest states and 21 of the 40 largest metropolitan areas hit new home price peaks.
Carson City, Nev., had the largest price appreciation (2.2 percent) of all metropolitan areas in June, according to the HPI. Las Vegas, Nashville, Tenn., and Seattle all experienced year-over-year home price gains of 10 percent or more.
Nationwide, the average home price in June was $281,000. In addition to Carson City, the metropolitan areas with the largest price increases in June were Detroit (2.1 percent); Ithaca, N.Y. (2 percent); Milwaukee (2 percent); Buffalo, N.Y., (2 percent); Racine, Wis. (1.9 percent); Cleveland (1.9 percent); La Crosse, Wis. (1.9 percent); Utica, N.Y. (1.8 percent); and Flint, Mich. (1.8 percent).