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Home Prices Rose 7.1% in Year Through February, FHFA Says

U.S. house prices rose 7.1 percent in the year through February, the biggest gain since 2006, indicating a solidifying recovery as buyers compete for properties amid tight inventory.

Prices climbed 0.7 percent on a seasonally adjusted basis from January, the Federal Housing Finance Agency said in a report today from Washington. That matched the average estimate of 16 economists, according to data compiled by Bloomberg.