For the 64th consecutive month, nationwide home prices peaked in August averaging $282,000, according to Black Knight’s latest Home Price Index (HPI).
However, Black Knight found that the rate of monthly appreciation (0.24 percent) slowed for the fifth consecutive month. For the year, home prices have appreciated more than 6 percent.
During August, New York led all states in monthly price appreciation (1.58 percent). Nine of the 10 best-performing metropolitan areas in August were in the Empire State, the HPI found.
Georgia (0.17 percent), Maryland (0.05 percent), and Virginia (0.23 percent) all had decreases in price appreciation during August, according to the HPI.
States that hit new price peaks in August included Indiana ($158K);
Massachusetts ($400K); Missouri ($182K); New York ($385K); Ohio ($162K); Pennsylvania ($229K); Tennessee ($201K); Texas ($242K);
Washington ($380K); and Wisconsin ($199K), the HPI found.
Metropolitan areas that reached new price peaks in August included Boston ($463K); Charlotte, N.C. ($228K); Cincinnati ($179K); Dallas ($262K); Houston ($238K); Kansas City, Mo. ($197K); Los Angeles ($654K); Nashville ($264K); New York ($473K); Portland, Ore. ($388K); San Antonio ($217K); San Diego ($583K); and San Francisco ($844K).