U.S. home prices, including distressed sales, increased 12.2 percent in February 2014 compared with February 2013, according to a new report from real estate data and analytics provider CoreLogic. This is the 24th month of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased by 0.8 percent in February 2014 compared with January 2014.

At the state level, including distressed sales, 14 states showed double-digit year-over-year growth in February, and Colorado, Nebraska, North Dakota, Texas and the District of Columbia all reached new home price highs. Twenty-two states were at or within 10 percent of their price peaks. Massachusetts ranked 21st among all states and the District of Colombia in price increase, notching an 8.3 percent rise in February compared with last year, according to Core Logic.

Excluding distressed sales, home prices nationally increased 10.7 percent in February 2014 compared with February 2013 and 0.9 percent month over month compared with January 2014. All 50 states and the District of Columbia showed year-over-year home price appreciation when distressed sales were excluded. Distressed sales include short sales and real estate owned (REO) transactions.

"As the spring home-buying season kicks off, house price appreciation continues to be strong," Mark Fleming, chief economist for CoreLogic, said in a statement. "Although prices should remain strong in the near term due to a short supply of homes on the market, price increases should moderate over the next year as home equity releases pent-up supply."

CoreLogic predicts that U.S. home prices will increase 0.5 percent month over month from February 2014 to March 2014, and 10.5 percent year over year.