In January, the S&P/Case-Shiller Home Price indexes rose 13.5% and 13.2% year-over-year as measured by the 10-city and 20-city composite indexes, respectively.
Despite strong yearly gains, the broader 20-city composite saw its third consecutive monthly drop (-0.1% for the month). The 10-city index rose marginally.
Thirteen of 20 cities saw price declines in January. Chicago fell the most (-1.25%), followed by Seattle (-0.77%) and Detroit (-0.71%).
S&P noted that both the 10-city and 20-city composites are back at their mid-2004 levels.
