Annual home-price growth fastest since 2006
WASHINGTON (MarketWatch) — U.S. home prices rose 10.2% in February from the same period in the prior year, reaching the fastest year-over-year pace since bubble-era growth in 2006, according to a Wednesday report from analysis firm CoreLogic (NYSE:CLGX) . Home prices rose 0.5% in February from January. Excluding short sales and other distressed properties, prices rose 10.1% over the 12 months ended in February, and 1.5% between January and February. Despite gains, home prices remain far below bubble peaks. The gap is wider in especially hard-hit states, such as Nevada. Still, price gains encourage market activity, and can support struggling homeowners. “Continued home price appreciation will provide fuel needed to drive further recovery in the home purchase market,” said Anand Nallathambi, chief executive of CoreLogic, in a statement.