The numbers: The S&P/Case-Shiller national index rose a seasonally adjusted 0.5% and was up 6.3% compared to a year ago in February. The 20-city index rose a seasonally adjusted 0.8% and was 6.8% higher than a year ago.
What happened: Rather than moderating, as many economists have expected, home prices are accelerating. The 6.8% annual gain in the closely-watched 20-city index was the strongest since mid-2014.
February's Case-Shiller data, which actually covers the three-month period ending in that month, was also notable for another reason: the 20-city index finally broke above the peak it last touched in 2006.
The Econoday consensus was for a 0.7% monthly increase in the 20-city seasonally adjusted index.
Read: Existing-home sales rise in March even as supply crunch worsens
Big picture: Very lean supply and outsize demand are keeping home prices booming - especially in the strong economies of the West and other areas scarred by the housing bust.
No cities experienced monthly price declines in February.
On Tuesday, the Federal Housing Finance Agency said its house price index rose 7.2% in the twelve months ending in February. The FHFA House Price Index covers only homes with mortgages backed by Fannie Mae and Freddie Mac.
| Metro | Monthly change | 12-month change |
| Atlanta | 0.4% | 6.5% |
| Boston | 0.7% | 5.7% |
| Charlotte | 0.8% | 6.4% |
| Chicago | 0.1% | 2.6% |
| Cleveland | 0.4% | 4.1% |
| Dallas | 0.6% | 6.4% |
| Denver | 1.2% | 8.4% |
| Detroit | 1.1% | 8.4% |
| Las Vegas | 1.0% | 11.6% |
| Los Angeles | 1.0% | 8.3% |
| Miami | 0.6% | 4.6% |
| Minneapolis | 0.3% | 5.8% |
| New York | 0.5% | 6.0% |
| Phoenix | 0.9% | 6.4% |
| Portland | 0.4% | 6.7% |
| San Diego | 1.1% | 7.6% |
| San Francisco | 1.0% | 10.1% |
| Seattle | 1.7% | 12.7% |
| Tampa | 0.3% | 7.1% |
| Washington | 0.4% | 2.4% |
Also read: Now Zillow won't just show you a home - it will sell it to you