By Dees Stribling | MHN Online
Black Knight Financial Services (formerly the LPS) released its latest Home Price Index report on Monday, which is based on January 2014 residential real estate transactions. There was no increase nor decrease month over month. Since last year, the index increased 8 percent, a slight drop in the rate from recent months.
The Black Knight index combines the company’s property and loan-level databases to produce an analysis of home prices for each of more than 18,500 U.S. zip codes. The index represents the price of non-distressed sales by taking into account price discounts for REO and short sales. Black Knight also released data for the 20 largest states and 40 MSAs on Monday. Prices were up in 10 of the 20 largest states in January, dropped in eight and didn’t move in two.
Separately, the company reported that nearly 1 million fewer loans are non-current this February than a year ago, with the share of loans in foreclosure down over 34 percent year-over-year; foreclosure starts dropped 30 percent compared with this time last year. Mississippi, New Jersey and Florida have highest rates of non-current loans.
