Home Prices Soared in March. Where They're Rising the Most.

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A slim inventory of homes for sale and high buyer competition likely helped boost home prices beyond consensus expectations.

Home prices in the 20 major metropolitan areas tracked by the S&P CoreLogic Case-Shiller 20-City Composite Home Price index grew 13.3% annually in March, according to data released today. That beats consensus estimates, which pegged the increase at 12.4%, according to FactSet.

Home prices in Phoenix grew the most, at 20% year over year, and led all cities for the 22nd consecutive month, according to Case-Shiller. San Diego and Seattle also recorded substantial increases, with home prices rising 19.1% and 18.3% year over year, respectively.