US National Home Prices in February are now almost 7% above the 2006 peak according to the latest Case-Shiller data and are surging at 6.8% YoY – the fastest pace since June 2014.
The data showed monthly gains in all 20 cities, including strong advances in expensive areas such as Seattle and Los Angeles, along with cheaper regions including Cleveland and Detroit.
All 20 cities in the index showed year-over-year gains, led by a 12.7 percent increase in Seattle and an 11.6 percent advance in Las Vegas; Washington was slowest at 2.4 percent
This pushed the national home price to a new record high…
“With expectations for continued economic growth and further employment gains, the current run of rising prices is likely to continue,” David Blitzer, chairman of the S&P index committee, said in a statement.
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