Home prices in February were up 0.7 percent month-over-month and 5.7 percent year-over-year in February, according to data released Wednesday by the Federal Housing Finance Agency (FHFA).
“U.S. house prices posted a strong increase in February,” Dr. Lynn Fisher, deputy director of the division of research and statistics at FHFA, said in a statement. “The growth in home prices coincides with other data showing robust housing market activity in early 2020 preceding the current crisis.”
“House prices had positive monthly gains in every census division,” Fisher said. “Transactions still do not reflect much, if any, influence from the COVID-19 outbreak as of February.”
FHFA’s home price index measures changes in single-family house prices, using a weighted, repeat-sales statistical technique to analyze transaction data from Fannie Mae and Freddie Mac.
The biggest year-over-year change was in the Mountain division, where home prices were up 8.1 percent.