U.S. home prices increased 0.7% in February compared with January and increased 5.3% compared with February 2015, according to Black Knight Financial Services’ home price index report.
The average price for a home was about $254,000, an increase of 27.5% compared with the market’s bottom but a decrease of 5.0% compared with the June 2006 peak of $267,000.
California, Colorado and Washington were among the states that saw the most home price appreciation in February.
Washington saw its average home price increase 1.8%, while Colorado saw its average home price increase 1.7%.
San Jose, Calif., led the metro areas with a 2.4% increase compared with January, followed by Seattle at 2.1%.
Connecticut, Rhode Island and New Jersey were the only states to see the average home price depreciate in February.