Residential home prices were up 6.4% in April from a year earlier, according to a report from Black Knight Financial Services.
The latest uptick means that U.S. home values are now only 12% below their 2006 peak, the Jacksonville, Fla., analytic provider noted.
Georgia and Massachusetts had the highest monthly gains as both states saw property values jump by 1.6%. Meanwhile, homeowners in Iowa and Arizona experienced the weakest home price appreciation from March to April, up 0.4% and 0%, respectively.
Out of the 20 largest states, 19 experienced month-over-month home price increases. Black Knight reported in its home price index report that property values were up 0.9% compared to March.
The Black Knight HPI combines the company's property and loan-level databases to produce a repeat sales analysis of home prices as of their transaction dates every month for more than 18,500 ZIP codes across the nation.