CoreLogic’s Home Price Index showed that home prices nationwide rose 0.3% in June after rising 0.6% in May, 1.1% in April and 1.2% in March, as appreciation gains are slowing but remain strong. Prices are also 4.7% higher when compared to June of last year. CoreLogic forecasts that home prices will rise 0.3% in July and 2.3% in the year going forward, though their forecasts tend to be conservative. ICE (formerly known as Black Knight) also reported that national home values rose 0.2% in June after seasonal adjustment, with their index showing that prices are 4.1% higher than a year ago.
What’s the bottom line? CoreLogic and ICE are not alone in their reporting, as home price gains have also been seen in other major indexes from Case-Shiller and the Federal Housing Finance Agency. These reports show that housing still proves to be a great investment for wealth creation.