Home prices rose 0.9% from May to June, according to Black Knight Financial Services' Home Price Index. Prices rose 5.1% compared to a year ago.
Home prices have risen 4.9% since the beginning of the year. The national level Home Price Index was $252,000 for the month; the index peaked at $268,000 in June 2006.
Michigan posted the highest gains for the month among all states, rising 1.9% from May to June. Colorado was second at 1.4%. Among metro areas, Reno, Nev., rose at the fastest rate, 2.6%.
The Jacksonville, Fla., company's Home Price Index represents the price of nondistressed home sales, including as factors price discounts for other real estate owned and short sales. Black Knight produces the index from its own property and loan-level databases, based on transactions for more than 18,500 ZIP codes.
