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Prices Crawl Up 0.1% in December Index

The Data & Analytics division of Black Knight Financial Services released on Monday its latest Home Price Index (HPI), noting an increase of 0.1 percent in home prices to $232,000 for the month of December.

The figure represents the price of non-distressed sales by taking into account price discounts for REO and short sales.

Prices rose this past year from December 2012, when the HPI was $214,000, an 8.4 percent change.

The $232,000 figure cited by the report is a 13.9 percent drop from the HPI’s peak of $270,000 in June 2006.

Fourteen of the 20 largest states saw marginal month-over-month home price declines.

The largest states experienced varying degrees of home price changes: California experienced no change; Florida rose 0.6 percent; New Jersey fell 0.1 percent; New York rose 0.7 percent; and Texas rose 0.4 percent.

The states with the biggest increases in home prices were New York (0.7 percent), Florida (0.6 percent), and Oklahoma, Texas, and Nebraska (each 0.4 percent).

States with the largest decrease in home prices include Alaska—down 0.8 percent—with North Dakota, North Carolina, Hawaii, and Washington each dropping 0.4 percent.

Black Knight’s HPI release comes a day before the scheduled release of the S&P/Case-Shiller Home Price Indices, which measures price changes in 20 metros nationwide. A consensus estimate among economists surveyed by Bloomberg calls for a monthly price increase of 0.6 percent (seasonally adjusted) in December, with yearly gains around 13.3 percent.

About Author: Colin Robins

Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News' sister site.
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