Mortgage software company Black Knight released the Mortgage Monitor Report that suggests February marked the first positive growth for home prices in the last eight months.
The report was prepared using Black Knight's mortgage, real estate, and public records datasets.
- The
national home price increase in February, adjusted for seasonality, was
0.16%, and a price hike was seen in 39 of the 50 largest markets.
- The report attributed the price rise to dynamic-low inventory and a modest rise in demand.
- Apart
from Miami, which saw the largest increase in home prices, other areas
that saw a rise in prices had better affordability and larger inventory
deficits.
- The total equity for mortgage holders is at $14.6T, 12% down from the 2022 peak, and tappable equity was down 15%.
