US house prices annually jump 7% in February

US house prices annually jump 7% in February

House prices up 1.2% on monthly basis

By Ovunc Kutlu

ISTANBUL (AA) - US house prices jumped 7% annually in February, from the same period of last year, the Federal Housing Finance Agency (FHFA) said Tuesday.

House prices, meanwhile, were up 1.2% in February compared to the previous month, the FHFA said in a statement.

"U.S. house prices rebounded with an increase in February, after declining slightly in January," said Anju Vajja, acting deputy director for FHFA’s Division of Research and Statistics.

"All nine census divisions experienced price appreciation over the last 12 months, with New England and Middle Atlantic divisions posting double digit growth," added Vajja.

While the West South Central posted a gain of 3.7%, the Middle Atlantic division increased 10.8%.

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