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.
• U.S. home prices were up 0.4 percent for the month, and have gained 5.3 percent from one year ago
• At $266K, the U.S. HPI has risen over 33 percent from the market’s bottom and is now within just 0.8 percent of a new national peak
• Home prices in nine of the nation’s 20 largest states and 14 of the 40 largest metros hit new peaks in July
The year-over-year increase in this index has been about the same for the last year.
Note that house prices are close to the bubble peak in nominal terms, but not adjusted for inflation.