the republic logo

US home prices accelerated in February as sales rise, supply stays tight

bug
Share/Save/Bookmark

WASHINGTON — U.S. home prices rose at a faster pace in February than the previous month, driven by higher sales and a limited supply of available houses.

The Standard & Poor's/Case-Shiller 20-city home price index rose 5 percent in February from 12 months earlier. That is up from a 4.5 percent pace in January.

Faster sales likely drove the price gain. Signed contracts to buy homes jumped in February, yet the number of Americans listing their homes for sale remains low. That has led to bidding wars in some cities.

All 20 cities in the index reported year-over-year price gains in February. Home prices in Denver jumped 10 percent, the most of any city, followed by San Francisco, with 9.8 percent.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2015 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.