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The numbers: The S&P/Case-Shiller national index rose a seasonally adjusted 0.5% and was up 6.3% compared to a year ago in February. The 20-city index rose a seasonally adjusted 0.8% and was 6.8% higher than a year ago.
What happened: Rather than moderating, as many economists have expected, home prices are accelerating. The 6.8% annual gain in the closely-watched 20-city index was the strongest since mid-2014.
February’s Case-Shiller data, which actually covers the three-month period ending in that month, was also notable for another reason: the 20-city index finally broke above the peak it last touched in 2006.
The Econoday consensus was for a 0.7% monthly increase in the 20-city seasonally adjusted index.
Big picture: Very lean supply and outsize demand are keeping home prices booming — especially in the strong economies of the West and other areas scarred by the housing bust.
No cities experienced monthly price declines in February.
| Metro | Monthly change | 12-month change |
| Atlanta | 0.4% | 6.5% |
| Boston | 0.7% | 5.7% |
| Charlotte | 0.8% | 6.4% |
| Chicago | 0.1% | 2.6% |
| Cleveland | 0.4% | 4.1% |
| Dallas | 0.6% | 6.4% |
| Denver | 1.2% | 8.4% |
| Detroit | 1.1% | 8.4% |
| Las Vegas | 1.0% | 11.6% |
| Los Angeles | 1.0% | 8.3% |
| Miami | 0.6% | 4.6% |
| Minneapolis | 0.3% | 5.8% |
| New York | 0.5% | 6.0% |
| Phoenix | 0.9% | 6.4% |
| Portland | 0.4% | 6.7% |
| San Diego | 1.1% | 7.6% |
| San Francisco | 1.0% | 10.1% |
| Seattle | 1.7% | 12.7% |
| Tampa | 0.3% | 7.1% |
| Washington | 0.4% | 2.4% |