The Case-Shiller Home Price Index, which is considered the “gold standard” for appreciation, showed home prices nationwide rose 0.7% from May to June after seasonal adjustment, marking the fifth consecutive month of gains. Prices were flat when compared to June 2022, which was when prices peaked in this report.

The Federal Housing Finance Agency (FHFA) also released their House Price Index, which revealed that home prices rose for the sixth straight month, up 0.3% from May to June. Prices also rose 3.1% from June 2022 to June 2023.

Note that FHFA’s report measures home price appreciation on single-family homes with conforming loan amounts, which means it most likely represents lower-priced homes. FHFA also does not include cash buyers or jumbo loans, and these factors account for some of the differences in the two reports.

What’s the bottom line? Home values are setting new all-time highs according to FHFA, CoreLogic, Black Knight and Zillow, more than recovering from the downturn we saw in the second half of 2022. New highs are also expected in Case-Shiller’s next report, given that home values have returned to the highs seen last year. These appreciation indexes show that now remains a great opportunity for building wealth through real estate.