U.S. home prices rose 11.9% in February at the fastest pace in nearly seven years as strong demand for housing collided with a tight supply of homes on the market.
The February S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, rose 11.9% from a year earlier, the biggest gain since March 2014. The index had also surged — 11.1% — in January. The February gain was about what economists had expected. Demand for housing has surged during the pandemic...