Black Knight: U.S. Home Prices Up 1.1% In May

U.S. home prices increased 1.1% in May compared with April and increased 5.4% compared with May 2015, according to Black Knight Financial Services home price index report.

The average price for a U.S. home was $263,000, an increase of 31.7% from the market’s bottom and 1.8% off the June 2006 peak.

States that saw the most home price appreciation in May included Idaho (1.9%), North Dakota (1.8%), Utah (1.7%), New Mexico (1.6%) and Colorado (1.6%).

The Mountain states dominated the month’s top-performing metro areas, accounting for eight of the top 10, with Cheyenne, Wyo.; and Fort Collins, Colo., leading at 2.1% each.

Of the 20 largest states and 40 largest metros, only Missouri and the St. Louis metropolitan area registered year-over-year declines in home prices.

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