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Homeowners, rejoice. Potential buyers, lament.
US home prices surged 12.2% year-over-year in February, up 0.9 points from the previous month’s reading, the Federal Housing Finance Agency said on Tuesday. That’s the fastest price appreciation on record and an increase of $35,000 to the median selling price for homes just a year ago. The increase follows a one-point gain in January.
Year-over-year price growth was strongest in the Mountain region — which includes Wyoming, Colorado, Utah, Arizona, and New Mexico — at 15.4%. Home inflation was weakest in the West North Central division — which includes Iowa, details ⇒
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