Even as mortgage interest rates began to climb back from historic lows in February and the state’s single-family home prices jumped 22 percent, Greater Hartford area homebuyers saw their ability to buy homes improve, according to a new report.

First American Financial Corp.’s Real House Price Index for the metro rose 8.9 percent in February, the company reported yesterday, putting it in the top 5 markets with the greatest year-over-year increase in affordability. Hartford was fourth after Kansas City, Missouri (12.1 percent growth), Phoenix (9.7 percent growth) and Memphis, Tennessee (9.0 percent growth).

The statewide median single-family price hit $300,000 and monthly sales volume rose to a 16-year high of 2,200 in February according to The Warren Group, publisher of The Commercial Record.

In Hartford County, The Warren Group reported, the median single-family sale price rose 22 percent in February on a year-over-year basis, with the number of sales increasing from 950 in February 2020 to 1,089 in February 2021.

“The three components of the RHPI are household income, mortgage rates and a nominal house price index. The RHPI adjusts nominal house prices according to changes in income and interest rates, which together make up consumer house-buying power. When incomes rise, house-buying power rises as well,” Mark Fleming, chief economist at First American, said in a statement. “However, when mortgage rates rise, house-buying power declines. Similarly, house-buying power declines when unadjusted nominal house prices rise.”