S&P/Case-Shiller index sees US house prices rise 0.9% in March

US house prices rose in March, according to the S&P/Case-Shiller index, which monitors prices in 20 cities.

Prices rose 0.9% on the month and 5% year-over-year. Economists had expected year-over-year growth of 4.6%, while the monthly gain was in line with expectations.

San Francisco and Denver reported the highest year-over-year gains, with price increases of 10.3% and 10.0%, respectively, over the last 12 months, while Cleveland saw the largest drop, down 1.2% from March 2015.

“Home prices have enjoyed year-over-year gains for 35 consecutive months,” said David M. Blitzer, managing director & chairman of the Index Committee for S&P Dow Jones Indices. “The pattern of consistent gains is national and seen across all 20 cities covered by the S&P/Case-Shiller Home Price Indices,” he added.