Home Price Gains Decelerating

Home prices continued to increase in June but the Home Price Index (HPI) released by Black Knight Financial Services showed continued slowing in the rate of price growth. The national HPI rose by 0.8 percent to $241,000. While month-over-month increases have varied widely - dipping as low at 0.1 percent in December 2013 only to hit 0.7 percent a couple of months later, the annual rate of increase has been steadily moderating for months.

In September of last year the HPI was 9 percent higher than a year earlier, by April the annual increase was 6.4 percent. Today Black Knight said the year-over-year increase in June was 5.5 percent. For the year-to-date the increase in the HPI has been 4.3 percent. Prices nationally are now 10.4 percent below the peak of $268,000 reached in June 2006.

HPI Changes from last month show a 0.5% increase for California. Los Angeles metro showed a 0.3% gain, Sacramento metro showed a 1.1% gain while San Francisco metro showed 0.6% gain.