by Calculated Risk on 9/25/2017 09:30:00 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: Monthly Rate of Appreciation Slows as U.S. Home Prices Gain 0.5 Percent in July, Year-Over-Year Growth Steady at 6.2 Percent

• The rate of growth in year-over-year price appreciation stabilized in July after accelerating throughout every month of 2017

• After hitting a high of 1.3 percent in March 2017, the rate of monthly appreciation has steadily slowed over subsequent months

• July marks 63 consecutive months of annual home price appreciation

• Of the 20 largest states, only Virginia saw home prices pull back, with a 0.2 percent month-over-month decline from 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 July will be released tomorrow.