by Calculated Risk on 8/28/2017 08:30:00 AM

Note: I follow several house price indexes (Case-Shiller, CoreLogic, Black Knight, Zillow, FHFA, FNC and more). Note: Black Knight uses the current month closings only (not a three month average like Case-Shiller or a weighted average like CoreLogic), excludes short sales and REOs, and is not seasonally adjusted.

From Black Knight: Black Knight Home Price Index Report: U.S. Home Prices Hit Another New High with 0.9 Percent Gain in June, Up 6.2 Percent Year-Over-Year

• After 62 consecutive months of annual home price appreciation, U.S. home prices hit yet another new peak in June

• Prices rose 0.9% from May, for a total of 5.5% growth since the start of the year

• The national level HPI now stands at $281K, and the rate of annual growth continues to accelerate (+6.2% Y/Y in June as compared to +6.1% in May)

• 12 of the 20 largest states and 21 of the 40 largest metros hit new home price peaks in June

The year-over-year increase in this index has been about the same for the last year (in the 5% and 6% range).

Note that house prices are above the bubble peak in nominal terms, but not in real terms (adjusted for inflation).  Case-Shiller for June will be released tomorrow.