U.S. home prices climb in February from year ago by most since 2006

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13/04/30 9:27 AM ETThe Standard & Poor’s/Case-Shiller 20-city home price index climbed 9.3% in the 12 months ending in February. That’s up from an 8.1% gain in January.

Scott Olson/Getty Images: The Standard & Poor’s/Case-Shiller 20-city home price index climbed 9.3% in the 12 months ending in February. That’s up from an 8.1% gain in January.

WASHINGTON — U.S. home prices rose in February compared with a year ago by the most in nearly seven years, as a growing number of buyers bid on a limited supply of homes.

The Standard & Poor’s/Case-Shiller 20-city home price index climbed 9.3% in the 12 months ending in February. That’s up from an 8.1% gain in January.

Annual prices rose in all 20 cities for the second month in a row, the first time that has happened since early 2005. Phoenix recorded the biggest annual gain, with prices rising 23%. Prices jumped nearly 19% in San Francisco.

Eleven of the 20 cities reported price gains in February compared with January. Those monthly numbers are not seasonally adjusted and reflect the slower winter buying period.

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