CoreLogic’s Home Price Index showed that home prices nationwide rose 0.6% in May after rising 1.1% in April and 1.2% in March, showing it’s been a strong season for home values nationwide. Prices are also 4.9% higher when compared to May of last year. CoreLogic forecasts that home prices will rise 0.7% in June and 3% in the year going forward, though their forecasts tend to be conservative. ICE (formally known as Black Knight) also reported that national home values rose 0.3% in May after seasonal adjustment, with their index showing that prices are 4.6% 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.