Home-price gains strong in Colorado, California and Washington.

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Jacksonville, Florida-based Black Knight Financial Services Inc. (BKFS) released its Home Price Index (HPI) data based on February real estate transactions, and the data shows the HPI is up 27.5 percent from price levels at the market's bottom. However, BKFS noted that average prices for the nation's housing market remain 5 percent off the market's peak reached in June 2006.

Current housing markets showing the strongest price gains are located in the western part of the country. Washington state leads all other states with 1.8 percent home-price appreciation, according to the latest data from BKFS. Colorado followed closely behind with 1.7 percent price gains. Then Oregon and California housing markets came in tied for third place with 1.3 percent in home-price growth in February compared with January.

States seeing a slowdown in home prices included Connecticut, Rhode Island and...

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