February Home Prices Defy Expectations, Rise After 7-Month Decline Streak

US home prices rose unexpectedly in February, ending seven consecutive months of price declines, as buyers came back into the market. The S&P CoreLogic Case-Shiller U.S. National Home Price index rose 0.2% in February compared with the previous month, according to data released on Tuesday. On a yearly basis, the index climbed 2.0% in February — lower than the 3.7% annual gain recorded in January. The Southeast remains the country’s strongest region, with price gains of 7.8% in February, according to S&P CoreLogic Case-Shiller U.S. National Home Price index.