United States: Home prices increase in February
April 28, 2015
In February, the unadjusted S&P/Case-Shiller 20-city home price composite index increased 0.5% over the previous month. The result contrasted the 0.1% decrease registered in the previous month and overshot the 0.2% increase that was expected by the market.
Home prices rose 5.0% over the same month of last year, which was up from the 4.5% rise recorded in January and marked a third consecutive acceleration. December’s result had marked the first acceleration in annual gains since November 2013. S&P pointed out that annual price increases were greater in 17 of the 20 cities surveyed.
According to S&P, “home prices continue to rise and outpace both inflation and wage gains.”
Author: Carl Kelly, Economist