Home Prices Hit a 64-Month High
Black Knight Financial reported that home prices hit a new peak in August for the 64th consecutive month.
The new home price reached $282,000 in August. While this is a pretty significant streak, home prices increased by only 0.24% from July 2017.
New York home prices rose 1.58% month-over-month, leading all other states in monthly appreciation for the second consecutive month. New York metros made up nine of the top 10 best performing metros.
New York home prices are up 32.89% from its national trough in January 2012, and has a current HPI value of $385,000.
This is clearly a trend as this is the fifth consecutive month where growth rates have slowed.
According to Black Knight, the annual rate of appreciation is now at 6.24%.
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