Home prices rose 1.5% from June to July per Black Knight’s Home Price Index, which was a big acceleration from the 0.7% monthly increase reported for June and the third month in a row this index set a new all-time high. On an annual basis, prices were up 2.3%, with the pace of appreciation at 4.4% from the beginning of this year. This equates to a 7.5% annualized pace if gains continue at this rate. Ninety-nine out of 100 cities showed gains in Black Knight’s index.

What’s the bottom line? The latest rise in home prices reported by Black Knight mirrors the strong growth seen by Case-Shiller, CoreLogic, Zillow and the Federal Housing Finance Agency. These gains are a far cry from the housing crash that many media pundits had forecasted and show that opportunities exist right now to build wealth through homeownership and appreciation.