January home prices show 5% increase: Black Knight

Continued price growth in New York drove January's home prices up by 0.1% from December and by 5.4% over the previous year, according to Black Knight Financial Services.

Black Knight's Home Price Index was $266,000 in January, with Massachusetts ($376,000), New York ($369,000) and Washington ($345,000) seeing new highs in values.

Prices are now 0.3% below their all-time peak of $268,000.

New York had 1.3% month-to-month price growth, followed by Hawaii, New Jersey and Washington at 0.6%.

By metropolitan area, New York City reported 1.3% price appreciation from December, followed by Seattle and San Jose, Calif., at 0.8%.

At the other end of the scale, Tuscaloosa, Ala., was once again the worst-performing metro area in January; with prices falling another 4% in January after a 3.2% month-to-month decline in December.

Alabama had the largest month-to-month decline in prices, down 0.8%. Besides Tuscaloosa, other Alabama cities with large drops in home prices were Anniston, down 1.1%, Daphne, down 0.1%, Gadsden, down 08%, and Decatur, down 0.8%.