CoreLogic’s Home Price Index showed that home prices nationwide rose 0.2% from September to October, hitting a new all-time high for the sixth straight month. CoreLogic forecasts that home prices will remain flat in November and rise 2.9% in the year going forward, though their forecasts tend to be on the conservative side historically. In fact, CoreLogic’s index is on pace for 7% appreciation in 2023, based on the monthly readings we’ve seen so far this year. Black Knight also reported that home prices rose 0.2% in October and 4.6% year over year. This is the sixth consecutive record high in home prices in their index. Based on the gains we have seen through the first 10 months of 2023, Black Knight’s index is also on pace for 7% full year appreciation.

What’s the bottom line? The latest rise in home prices reported by CoreLogic and Black Knight echoes the strong growth seen by other major indices like Case-Shiller, Zillow and the Federal Housing Finance Agency. These reports continue to demonstrate why homeownership remains a good opportunity for building wealth through real estate.