Home prices increased 5.7% year over year in November, Black Knight Financial Services reported.
Black Knight said in its Home Price Index report released Monday that the index reached $267,000, also representing a 0.2% uptick from the month prior. Home prices are now just 0.3% below a new national peak.
New York came out ahead of all other states in terms of price appreciation, with a 1.1% increase, followed by New Jersey and Tennessee.
New York City also posted the highest level of price appreciation at the metropolitan level with a 1.4% increase. The rest of the top 10 was largely dominated by cities in Tennessee (Nashville, Knoxville and Kingsport) and Florida (Cape Coral, The Villages, Lakeland, Ocala and Palm Bay). Also on the list was Coeur d’Alene, Idaho.