United States home prices recorded a 5.3 percent annual gain in February, unchanged from January, according to the S&P/Case-Shiller U.S. National Home Price Index.
The 10-City Composite increased 4.6 percent annually in February, compared with a 5 percent increase in January. The 20-City Composite increase in February was 5.4 percent, a slight decrease from 5.7 percent in January.
The highest year-over-year home price gain in February was 11.9 percent, reported in Portland. Seattle and Denver followed with 11 percent and 9.7 percent gains, respectively.
Month-over-month, the National Index recorded a 0.2 percent gain in February, the 10-City Composite showed a 0.6 percent increase and the 20-City Composite showed a 0.7 percent increase.
"Home prices continue to rise twice as fast as inflation, but the pace is easing off in the most recent numbers," said David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices, in a statement.
