United States: Home price growth picks up in February
The S&P/Case-Shiller 20-city composite home price index increased 1.2% month-on-month in February, after January’s 0.9% rise. When adjusted for seasonal factors, home prices were also up 1.2% in February, which matched January’s reading.
Home prices surged 11.9% in annual terms in February, which was stronger than January’s 11.1% increase and marked the quickest pace of growth since March 2014. Gains were the strongest in Phoenix for 20 straight months, followed by San Diego and Seattle. Overall, all 20 cities registered price growth in February.