A “For Sale” sign outside a house in West Palm Beach, Florida, April 7, 2021.
Marco Bello | Bloomberg | Getty Images
Home price gains continue to outpace expectations, as tight supply and strong demand lead to bidding wars.
Nationally, prices in February rose 12% year over year, up from 11.2% in January, according to the S&P CoreLogic Case-Shiller home price index.
The 10-city composite rose 11.7% annually, up from 10.9% in January. The 20-city composite gained 11.9%, up from 11.1% in the previous month. All the gains were in the double digits, except Chicago and Las Vegas.
“The National Composite’s 12% gain is the highest recorded since February 2006, exactly 15 years ago, and lies…