Home prices increased more than six percent throughout the U.S. during November, according to Black Knight’s Home Price Index (HPI).
November’s 6.44 percent year-over-year increase marked 67 consecutive months with an annual gain nationally. Prices during November increased 0.27 percent, as compared with 0.29 percent in October.
New York (1.36 percent increase) led all states in monthly appreciation. Home prices fell fall in six of the 20 largest states during November, with Wisconsin (-0.37 percent); Ohio (-0.31 percent); North Dakota (-0.26 percent); and Connecticut (-0.22 percent) registering the largest declines, according to the HPI.
Seven of the 10 best-performing metropolitan areas were in New York and Florida. For the month, the highest increase in home appreciation occurred in Dover, Del. (2.1 percent). Canton, Ohio (2.24 percent) had the greatest drop in home prices during November, the HPI found.
Home prices hit new peaks in 11 of the country’s 20 largest states. The HPI identified those places as California ($527K); Georgia ($210K); Indiana ($158K); Massachusetts ($404K); Missouri ($184K); New York ($388K); North Carolina ($214K); Tennessee ($204K); Texas ($242K); and Washington ($381K).
Metropolitan areas hitting new price peaks were Boston ($468K); Charlotte, N.C. ($230K); Dallas ($264K); Denver ($396K); Kansas City, Mo. ($198K); Los Angeles ($665K); Nashville ($269K); New York ($476K); San Diego ($586K); San Francisco, CA ($861K); San Jose, Calif. ($1,073K); and Seattle ($476K)