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Source: KSL — 

SALT LAKE CITY — Home prices in major cities across the nation increased 19.8% in February year over year, according to the latest figures reported Tuesday from the S&P CoreLogic Case-Shiller national home price index.

That’s up from a 19.1% year-over-year increase in January — and is the third-highest reading in the index’s 35-year history.

It shows U.S. housing prices continued to spike rapidly heading into spring, signaling that Americans rushed to buy homes before inflation and rising mortgage rates hit the market.