Magazine article Mortgage Banking

New York, Texas and Tennessee Hit New Price Peaks in October

Magazine article Mortgage Banking

New York, Texas and Tennessee Hit New Price Peaks in October

Article excerpt

Jacksonville, Florida-based Black Knight Financial Services' (BKFS') Data & Analytics division reported that in the month of October, prices for home sales in three states--New York, Texas and Tennessee--reached new peaks. The company said new price peaks also were reached in seven of the nation's 40 largest metro markets during October.

The seven housing markets that posted new peaks in October were: Austin, Texas; Dallas; Denver; Houston; Nashville, Tennessee; Portland, Oregon; and San Antonio, Texas.

New York hit a new home-price peak at $365,000, while Tennessee's new peak is $178,000 and Texas' new statewide high mark for home prices is $216,000, according to BKFS.

New York state's housing markets continued to demonstrate strong price gains throughout the summer and fall, the company reported. The state led all states for the fourth consecutive month with a 1.1 percent gain for October sales. Transactions in the New York City metro area (along with Reno, Nevada) showed price gains of 1.2 percent on average in October from the prior month.

Yet, the nation as a whole is still 5.3 percent off of its prior home-price peak of $268,000 reached in June 2006, according to Black Knight's Home Price Index Report. …

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