Home price appreciation continued to slow in September, falling by one-third compared with August, according to the latest home price index report from Black Knight.
September marked the sixth consecutive month of slowing growth, the software, data and analytics firm says.
Home prices are still going up – just more slowly. The report shows that the average home price increased 0.16% in September compared with August. What’s more, home prices were up nationwide by an average of about 6.36% compared with September 2016.
The average home price in September was around $282,000.
States that saw the most home price appreciation, month-over-month, in September included New York (1.08%), Rhode Island (0.93%), Florida (0.87%), Utah (0.85%) and Montana (0.83%).
It was the third month in a row that New York led the states in home price appreciation.
Another indication of slowing growth: The number of states and metros setting new home price peaks continued to fall, with just six of the 20 largest states and 11 of the 40 largest metros hitting new highs in September.