US home prices rise 2% in February, but record slowest growth since July 2012

By Ovunc Kutlu

ISTANBUL (AA) - US home prices increased 2% in February annually, but recorded the slowest rate of growth since July 2012, according to a report Tuesday by the S&P Dow Jones Indices (S&P DJI).

The S&P CoreLogic Case-Shiller index, which covers all nine US census divisions, showed an annual slowdown from the 3.7% gain that was recorded in January.

This recent figure recorded the slowest rate of growth since July 2012 when housing prices first started to recover from the 2008 recession caused by US housing market crisis.

Before seasonal adjustment, however, the national index posted a 0.2% increase in February, compared to the previous month, recovering and climbing up from the 0.6% decline in January.