Black Knight released their Home Price Index for January, and home values rose 0.2% from December. Prices were also 5.6% higher than in January 2023.
CoreLogic’s latest Home Price Index showed that national home values fell 0.1% from December to January. While this monthly figure was different than Black Knight’s, CoreLogic reported a slightly higher level of annual appreciation, with prices 5.8% greater than a year earlier.
CoreLogic forecasts that home prices will hold steady in February and rise 2.6% in the year going forward, though it’s worth noting their forecasts tend to be on the conservative side historically. For example, CoreLogic originally forecasted that we would see 3% appreciation in 2023 but we saw 5.5%. Plus going back to 2021, they had forecasted a 6.6% decline in home values, and we saw a nearly 19% gain instead.
What’s the bottom line? The annual home price growth seen by CoreLogic and Black Knight has been echoed by other major indices like Case-Shiller and the Federal Housing Finance Agency, showing that great opportunities remain for building wealth through real estate.