Here's Where Home Prices Are Rising Fastest

U.S. home prices hit another record in March, up 6.5% from a year earlier just as the critical spring buying season began.The S&P CoreLogic Case-Shiller U.S. National Home Price Index, which measures home prices across the nation, broke another record in its monthly report, fueled by extremely low inventory that's partly a result of stubbornly high mortgage rates.

Home prices in the southern California city were up more than 11 percent year-over-year, followed closely by New York, Cleveland and Los Angeles. Prices in the 20-city index were up 7.4 percent on an annual basis, slightly above the 7.3 percent gain a month earlier and evidence that demand for homes in urban areas — where inventory remains especially tight — remains strong.On a month-over-month basis, the 0.3 percent rise in March was less than the 0.6 percent rise in February.

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