WASHINGTON — U.S. home prices rose in February from a year earlier at a solid pace, suggesting that a tight supply of available homes is boosting prices despite slowing sales.
Real estate data provider CoreLogic said Tuesday that prices for existing homes rose 12.2 percent in February from a year ago. That was up slightly from January’s year-over-year pace of 12 percent.
On a month-to-month basis, prices in February rose 0.8 percent from January. But CoreLogic’s month-to-month prices aren’t adjusted for seasonal patterns, such as winter weather, which can depress sales.
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