U.S. home prices in February posted their biggest annual gains since February 2006, S&P Dow Jones Indices said Tuesday. The latest results for the S&P CoreLogic Case-Shiller Indices’ national composite index represented the ninth consecutive month of single-family home price appreciation nationwide.
The U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 12.0% annual gain in February, up from 11.2% in the previous month. The 10-City Composite annual increase came in at 11.7%, up from 10.9% in January. The 20-City Composite posted an 11.9% year-over-year gain, up from 11.1% in the previous month.
Phoenix, San Diego and Seattle reported the highest year-over-year gains among the 20 cities in February. Nineteen of the 20 cities reported higher annual price increases in February versus January.
“Housing’s strength is reflected across all 20 cities,” said Craig J. Lazzara, global head of index investment strategy at S&P DJI.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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