U.S. home prices increased 1.2% in February compared with January and were up 10.4% compared with February 2020, according to CoreLogic.
That’s the highest level since April 2006.
Driving the increase is unprecedented demand for single-family detached homes in wake of the pandemic, coupled with lack of supply.
CoreLogic analysis shows that homebuyers have steadily moved away from densely populated, high-cost coastal areas in favor of more affordable suburban locales.
The number of homebuyers