Home prices reached their highest level since the recovery started, according to Black Knight Financial Services.
February's Home Price Index was $268,000, up from $266,000 in January.
Values were up 0.8% in February
This was the largest month-to-month percentage increase since last August, when prices rose by 0.3%. Prices are 5.7% higher compared with February 2016.
Of the largest 10 month-to-month increases by city, six were in Washington, led by Seattle, up 2.7%; Bellingham, up 2%; Walla Walla, up 1.8%; Spokane, up 1.6%; Yakima, up 1.5%; and Wenatchee, up 1.5%.
Other cities in the top 10 were San Jose, Calif., up 2.2; Denver, up 2%; San Francisco, up 1.8%; and Portland, Ore., up 1.6%.
The state with the next largest gain after Washington was Colorado, up 1.6%; followed by Oregon, up 1.5%; New York, up 1.2%; and Utah, up 1.2%.
Tuscaloosa, Ala., had the largest price decrease during February, down 4.7%. The next largest decrease was seen in Atlantic City, N.J., at 0.5%.
Of the remaining 10 cities with the largest price decrease, three were in Alabama: Anniston, down 0.4%; Daphne, down 0.4%; and Dothan, down 0.3%. An additional two more were in New Jersey: Vineland, down 0.3%; and Trenton, down 0.2%.
The other three cities with the largest price decrease were Davenport, Iowa, down 0.4%; New Haven, Conn.; down 0.4% and Reading, Pa., down 0.2%.
