February’s national Home Price Index (HPI) rose 0.8 percent from January 2017 to $268,000, up 5.7 percent from February 2016, according to a new report from Black Knight Financial Services.
Massachusetts homeowners fared much better than the national average, according to The Warren Group, publisher of Banker & Tradesman. The median sale price of a single-family home in February reached $319,000 in the Bay State, a 6.7 percent increase from $299,000 in February 2016. The median condominium sale price in February reached $297,700, an 8.1 percent increase from $275,500 in February 2016 – the highest median sales price for condos in February on record.
Other highlights from Black Knight’s report include:
- Washington led all states in monthly appreciation, with home prices there rising 2.2 percent, followed by Colorado and Oregon with 1.6 and 1.5 percent growth, respectively.
- Seattle’s 2.7 percent monthly appreciation was the most of any metropolitan area; San Jose, California; Denver, Colorado; and Bellingham, Washington also saw monthly price gains of 2 percent or higher.
- In addition to securing the top spots on both the best-performing state and metropolitan area lists this month, Washington also accounted for six of the 10 best-performing metros in the country.
- For the third consecutive month, Tuscaloosa, Alabama was once again the worst-performing metropolitan area, with prices falling 4.7 percent in February – more than eight times the decline of the next worst-performing metro.
Read the full report here.
