S&P/Case-Shiller Home Price Indices Data through March 2013 showed that all three composites posted double-digit annual increases. The data shows
that as of March 2013, average home prices across the U.S. are back to their late 2003 levels for both the 10-city and 20-city composites.

The 10-city and 20-city composites increased by 10.3% and 10.9% in the year to March with the national composite rising by 10.2% in the last four quarters. All 20 cities posted positive year-over-year growth.

As of the first quarter of 2013, average home prices across the U.S. are back at their mid-2003 levels. At the end of the first quarter of 2013, the National Index was up 1.2% over the fourth quarter of 2012 and 10.2% above the first quarter of 2012.

The data showed that Phoenix again had the largest annual increase at 22.5% followed by San Francisco with 22.2% and Las Vegas with 20.6%. Miami and Tampa, the eastern end of the Sunbelt, were softer with annual gains of 10.7% and 11.8%. The weakest annual price gains were seen in New York (+2.6%), Cleveland (+4.8%) and Boston (+6.7%); even these numbers are quite substantial, the report said.

To read the S&P/Case-Shiller Home Indices report click here.