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US home prices rose 11.9% in February, fastest since 2014

Usa city Las Vegas city Seattle Washington city Chicago county San Diego city Phoenix pandemic strain
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WASHINGTON – U.S. home prices rose in February at the fastest pace in nearly seven years as strong demand for housing collided with a tight supply of homes on the market.

The February &P CoreLogic Case-Shiller 20-city home price index, released Tuesday, rose 11.9% from a year earlier, the biggest gain since March 2014.

The index had also surged — 11.1% — in January. The February gain was about what economists had expected. Prices rose in all 20 cities, led by year-over-year gains of 17.4% in Phoenix, 17% in San Diego and 15.4% in Seattle.

Chicago (up 8.6%) and Las Vegas (up 9.1%) registered the smallest gains. Demand for housing has surged during the pandemic. Americans fortunate enough to work from home, seeking more space or a different

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