Home Prices Rise Over 9% in Last Year

New York, NY, April 30, 2013 -- Single-family home prices posted their best annual increase in nearly seven years in February according to the S&P/Case-Shiller composite index.

The index of 20 metropolitan areas gained 9.3% year-over-year and 1.2 compared to January, topping forecasts.

"Despite some recent mixed economic reports for March, housing continues to be one of the brighter spots in the economy," David Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a press release.