The S&P/Case-Shiller index of 20 metro areas was up 0.8% on a seasonally adjusted basis in January, according to Reuters. Economists polled by Reuters had expected a 0.7% rise.
The index was up 13.2% year-over-year, falling just short of economists’ projections of a 13.3% gain.
”The housing recovery may have taken a breather due to the cold weather,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices. “From the bottom in 2012, prices are up 23 percent and the housing market is showing signs of moving forward with more normal price increases.”
Single-family home prices were up in January, edging past economists’ predictions.