It marked another increase after the prior month's annual gain of 6%, and the fastest rate of price growth since November 2022.
Home prices in February jumped 6.4% year over year, according to the S&P CoreLogic Case-Shiller national home price index.
Strong demand and tight supply continue to push home values higher, even though mortgage rates are now moving higher again. "Following last year's decline, U.S. home prices are at or near all-time highs," says Brian Luke, head of commodities, real and digital assets at S&P Dow Jones Indices. "For the third consecutive month, all cities reported increases in annual prices, with four currently at all-time highs: San Diego, Los Angeles, Washington, D.C., and New York."
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