WASHINGTON (AP) U.S. home prices rose in February from a year earlier at a solid pace, suggesting that a tight supply of homes for sale is boosting prices despite slowing sales.
Real estate data provider CoreLogic says prices for existing homes rose 12.2 percent in February from a year ago. That was up slightly from January's year-over-year pace of 12 percent.
On a month-to-month basis, prices in February rose 0.8 percent from January. But CoreLogic's month-to-month prices aren't adjusted for seasonal patterns, such as winter weather, which can depress sales.
Snowstorms, rising prices and higher mortgage rates combined to reduce home sales in February to their lowest level in 19 months. The number of available homes remains below the level typical of a healthy market.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to email@example.com. Please provide detailed information.