(RTTNews) - Home price growth in major U.S. metropolitan areas accelerated in the month of January, according to a report released by Standard & Poor's on Tuesday.
The report said S&P CoreLogic Case-Shiller 20-City Home Price Index soared 6.6 percent year-over-year in January compared to the 6.2 percent jump in December. Economists had expected the pace of growth to accelerate to 6.7 percent.
Standard & Poor's said San Diego again reported the highest year-over-year growth among the 20 cities with an 11.2 spike in January, followed by Los Angeles with an 8.6 percent surge.
The report also said the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, saw a 6.0 percent annual gain in January compared to the 5.6 percent increase in the previous month.
