House prices continued their climb in February across the nation and in every region, according to the latest House Price Index released Tuesday by the Federal Housing Finance Agency.
The Index found:
- House prices rose 0.9 percent for the month.
- From February 2020 to February 2021, prices skyrocketed 12.2 percent.
- For the nine census divisions, seasonally adjusted monthly house price changes for the month ranged from a 0.3 percent increase in the Middle Atlantic division to a 1.6 percent increase in the Mountain division. The 12-month changes ranged from 10.5 percent increase in the West North Central division to 15.4 percent increase in the Mountain division.
“Annual house price growth acheived a new record high in February,” said Dr. Lynn Fisher, FHFA’s Deputy Director of the Division of Research and Statistics. “The 12.2 percent gain represents an increase of $35,000 for a median-priced home that sold a year ago at $290,000 in the Enterprises’ data.”