US house price growth accelerates in February
US house price growth unexpectedly accelerated in February, according to the S&P/Case-Shiller National Home Price Index.
The 20-city index was 6.8% higher year-over-year, up from 6.4% in January and beating expectations for a slowdown to 6.3% growth.
Meanwhile, the national Home Price NSA index covering all nine US census divisions was 6.3% higher on the year in February compared with a 6.1% increase the month before.
Seattle, Las Vegas and San Francisco continued to report the highest year-over-year gains among the 20 cities. Seattle led the way with a 12.7% year-over-year price increase, followed by Las Vegas with an 11.6% jump and San Francisco with a 10.1% rise.
Thirteen of the 20 cities reported greater price increases in the year ending February 2018 versus the year ending January 2018.