Real estate prices posted an annual gain of 6.3% in February, according to the latest S&P CoreLogic Case-Shiller Indices.
On a national level, home prices are up 6.7% from their peak in July 2006, and have been Rising continuously for the past 70 months.
Home buyers in Seattle, Las Vegas and San Francisco are facing the biggest gains.
With a flourishing labor market, steady economic growth and wages finally starting to rise, home prices aren't expected to slow down anytime soon.
Competition is stiff, with above-asking price offers and bidding wars being common occurrences in the country's hottest markets.
"There is no let-up to rising home prices," said Lawrence Yun, chief economist at the National Associate of Realtors, in a statement Tuesday morning.
"Even as the tightening job market is starting to boost incomes, those looking to buy are facing a double whammy of fast rising home prices and higher Mortgage Rates."
- Seattle-area home price growth from current boom has surpassed last decade's ...Seattle Times
- Cleveland-area house prices are rising faster, but they're still at 2004 ...cleveland.com
- Dallas-area home prices growing at much lower rateDallas News
- A Bevy of Industrial Q1 Earnings: CAT, LMT, MMM & MoreZacks.com
- Feb. Home Prices Soar 6.3 Pct in a Fierce Competition to BuyU.S. News & World Report
- US home prices inch higher in FebruaryYahoo Finance
- Home prices surge in February – even as mortgage rates riseCNBC
- US Home Prices Rise: Time to Invest in REITs?ETF Trends
- S&P CoreLogic Case-Shiller Home Prices: Cities in the West Continue to Lead ...PR Newswire (press release)