Case-Shiller Home Prices Rise In February

Low supply of available homes for the sale is a key factor behind strength in housing prices. Case-Shiller's 20-city adjusted index rose 0.8 percent in data for February.

Year-on-year rates, at 6.8 percent for Case-Shiller and 7.2 percent for FHFA, are at 4-year highs. There is strong pressure out West in both reports with Case-Shiller's tally showing low double-digit growth in Seattle, Las Vegas and San Francisco. Those with the lowest growth in Case-Shiller are Washington DC and Chicago which are both in the low single digits.

Six percent rates for home-price appreciation were a solid fixture of the 2017 economy and a 6 to 7 percent rate appears to be the outlook for 2018.