The FHFA (Federal Housing Finance Agency) released their House Price Index, which measures home price appreciation on single-family homes with conforming loan amounts. While you can have a million-dollar home with a conforming loan amount, the report most likely is representing lower prices homes, where supply is tightest, and demand is strongest. It should be no surprise that it is even stronger than the Case Shiller Report - Home prices rose 1.8% in April and are up 15.7% year over year, up from 14.1% in the previous report.