Pursuits
Home Prices in U.S. Cities Increased Less Than Forecast
- West shows biggest gains in home values, led by Portland
- Just half the 20 cities showed bigger advances versus January
U.S. Home Prices Miss Expectations With 5.4% Gain
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Home prices in 20 U.S. cities rose less than forecast in February from a year earlier, which bodes well for prospective buyers.
The S&P/Case-Shiller index of property values in 20 cities increased 5.4 percent from February 2015, the smallest gain since October, after climbing 5.7 percent in the year ended in January, a report from the group showed Tuesday in New York. The median projection of 25 economists surveyed by Bloomberg called for a 5.5 percent advance. Nationally, prices rose 5.3 percent year-over-year.