U.S. home prices rose at their fastest annual rate since 1996 as a pandemic-fueled housing market frenzy accelerated, according to private sector data released Tuesday.
The S&P CoreLogic Case-Shiller U.S. National Home Price index rose 12 percent year over year in February, marking the fastest increase in 15 years. The index rose 11.9 percent in January.
All 20 of the major U.S. metro areas tracked by the index saw home prices rise at least 10 percent in the year since February 2020 except for Chicago and Las Vegas, which saw gains of 8.6 percent and 9.4 percent, respectively.
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