Home price gains aren’t cooling off

Mortgage News Daily

For the fourth consecutive month, the National Home Price Index from S&P CoreLogic Case-Shiller has set a new price peak, rising 5.8 percent in February. It is now a half percentage point above the pre-crisis peak reached in July 2006. The Housing Price Index released by the Federal Housing Finance Agency (FHFA) also accelerated, gaining 0.8 percent in February, compared to 0.2 percent in January.

The Case-Shiller National Index, which covers all nine U.S. Census Regions, increased its annual pace, rising 0.1 percent more than it had for the 12-month period ended in January. The resulting 5.8 percent change was the largest in 32 months. The pace did slow on a month-over-month basis. The seasonally adjusted National Index was up 0.2 percent from January, identical to the December-January change, but its seasonally adjusted 0.4 percent increase in February was lower than the 0.6 percent increase the previous month.

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