(S&P Global) The index gauging the house prices in the US for its nine census divisions rose by an annual 19.8% in February, the largest-biggest gain in the 35-year series data.
The house price gains in February happened after an increase of 19.1% the prior month.
The house prices within the US 10-City Composite increased by an annual 18.6%, compared to a gain of 17.3% the previous month. The 20-City Composite recorded gains of 20.2%, compared to 18.9% in the prior month.
The cities of Phoenix, Tampa, and Miami had the highest annual increases in house prices, with gains of 32.9%, 32.6%, and 29.7%, respectively.
Craig Lazzara, global head at S&P Dow Jones Indices, says that the macroeconomic environment is changing rapidly and the high house prices could come down soon. Lazzara sees the impact of rising mortgage rates also dampening the prices.
SPY is down -0.83%, DXY is up +0.18%.
