Black Knight Mortgage Monitor: Home Prices Increased Month-to-month in April; Prices Unchanged YoY

Today, in the Calculated Risk Real Estate Newsletter: Black Knight Mortgage Monitor: Home Prices Increased Month-to-month in April; Prices Unchanged YoY

A brief excerpt:

Note: The Black Knight House Price Index (HPI) is a repeat sales index. Black Knight reports the median price change of the repeat sales.

Here is a graph of the Black Knight HPI. The index is still up 1.0% year-over-year and will likely turn negative YoY soon.

• April’s 0.46% seasonally adjusted rise was down from March’s revised +0.62% and roughly on par with the 0.49% rise in February

• April’s seasonally adjusted increase was near the 30-year average of 0.48% for the month – 5.5% annualized

• Despite prices firming up this spring, the annual home price growth rate slipped to 0% in April, the first-time prices have been flat year over year since the rebound from the Great Financial Crisis began in 2012

• At its current trajectory, the annual home price growth rate would only fall modestly below 0% for a very short time before pulling back above water by late Q2/early Q3
emphasis added

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