CoreLogic’s Home Price Index showed that home prices nationwide rose 1.1% in April after rising 1.2% in March, showing that home price appreciation remains strong this spring. Prices are also 5.3% higher when compared to April of last year. CoreLogic forecasts that home prices will rise 0.8% in May and 3.4% in the year going forward, though their forecasts are typically on the conservative side so it’s possible appreciation will be even higher.
ICE (formally known as Black Knight) also reported that national home values rose 0.3% in April after seasonal adjustment, with their index showing that prices are 5.1% higher than a year ago.
What’s the bottom line? The latest rise in home prices reported by CoreLogic and ICE echoes the strong growth seen by other major indices like Case-Shiller and the Federal Housing Finance Agency. These reports continue to demonstrate why homeownership remains a good opportunity for building wealth through real estate.