National home prices jumped more than 8 percent in January, according to the well-known Case-Shiller Home Price Indices. All 20 cities measured, including Boston, showed positive year over year growth through January, with Phoenix leading the way with a significant 23.2 percent gain. 

"The two headline composites posted their highest year-over-year increases since summer 2006. This marks the highest increase since the housing bubble burst," David Blitzer, chairman of the index committee at S&P Dow Jones Indices, which publishes the Case-Shiller Index, said in a statement.

According to the index, Boston prices were flat compared to December 2012, but up 4 percent compared to January 2012. That’s the third-slowest rate among the 20 large cities tracked by the index; only Chicago, with a year-over-year growth rate of 3.3. percent, and New York, at 0.6 percent, were lower.

Month-over-month, average home prices in the 20-city composite were up 0.1 percent versus December 2012.

National Home Prices Spike

by Banker & Tradesman time to read: 1 min
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