CoreLogic’s Home Price Index showed that home prices nationwide rose by 1.2% from March to April and they were 2% higher when compared to April of last year. April marks the third consecutive month of nationwide price increases per CoreLogic’s Index, after prices also rose 1.6% in March and 0.8% in February. CoreLogic forecasts that home prices will rise 0.9% in May and 4.6% in the year going forward, up from the 3.7% annual increase they forecasted just two months ago.

What’s the bottom line? Home prices have reached an inflection point with gains occurring across much of the country. CoreLogic’s Chief Economist Selma Hepp explained, “While mortgage rate volatility continues to cause buyer hesitation, the lack of for-sale homes is putting firm pressure on prices this spring, leading to above-average seasonal monthly gains and a rebound in home prices in most markets.”

Meanwhile, Zillow’s Housing Market Report showed that home prices climbed 1.4% from April to May. Black Knight also reported that home prices rose 0.5% in April, with Vice President of Enterprise Research Andy Walden noting that, “April marked the fourth consecutive month of home price gains, which are now almost universally rising across the country again on a seasonally adjusted basis.”