US home prices up 5.1% in June

Takeaways:

US home prices increased by 5.1 percent year-over-year in June.
The San Francisco Bay Area, Texas and the Northwest have been the driving force behind the overall rise in US home prices.
US home prices rose 0.9 percent spanning May to June.

On a year-over-year basis, US home prices increased by 5.1 percent in June, reaching $252,000.

According to a report from Black Knight Financial Services, June’s HPI was just 5.8 percent off its June 2006 peak of $268,000 and up 26 percent from the market’s bottom in January 2012.

The San Francisco Bay Area, Texas and the Northwest have been the driving force behind the overall rise in US home prices.

San Francisco and San Jose have seen year-to-year home price increases of 11.9 percent and 14.2 percent, respectively. Ju…

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