CoreLogic’s Home Price Index showed that home prices nationwide rose for the fourth straight month, up 0.9% from April to May. Prices were also 1.4% higher when compared to May of last year. CoreLogic forecasts that home prices will rise 1% in June and 4.5% in the year going forward.

Black Knight also reported strong growth in May, with home prices up 0.7% from April. Their index has seen prices rising since January at an accelerating pace. Meanwhile, Zillow’s latest Housing Market Report showed that home values rose 1.4% in June, which was a very strong gain and followed an equal 1.4% rise in May.

What’s the bottom line? Black Knight’s Vice President of Enterprise Research, Andy Walden, explained that home values have erased the losses from the second half of 2022 and have now set a new all-time high. “There is no doubt that the housing market has reignited from a home price perspective,” said Walden. “Firming prices have now fully erased the pullback we tracked through the last half of 2022 and lifted the seasonally adjusted Black Knight HPI to a new record high in May.”

Based on the price gains that have been reported so far this year, CoreLogic’s index is on pace for 10% appreciation in 2023, with Zillow also at a very strong 9.4% pace and Black Knight at a 5% pace. These gains are a far cry from the housing crash that many media pundits forecasted and show that opportunities exist right now to build wealth through homeownership and appreciation