Home prices across the U.S. crept up by 0.9% in June and 5.1% when compared with June 2014, Black Knight Financial Services reported on Monday. Of the 40 metro areas in the Black Knight index, 13 hit new peaks in June.
The firm’s Home Price Index finished the month at $252,000, just 5.8% lower than the $268,000 it cost to buy a home at the height of the housing bubble in 2006 but 26% higher than the price of a home at the depths of the housing crisis.
Home prices hit a new peak in Indiana, New York, Tennessee and Texas in June, the index showed.
Rising home prices are a measure of the housing recovery’s progress, even as they make it harder for many Americans to afford to become homeowners.
Still, the price of homes — and their pace of growth — is uneven across the country, leaving pockets of affordability in some regions.
For example, Reno, NV, saw the greatest monthly appreciation among all metro areas in June, with price increases of 2.6%. But just 400 miles away, Las Vegas home prices remain 40% lower than their all-time peak.