The S&P/Case-Shiller Home Price Index for January was released Tuesday morning. The index, which tracks prices of 20 metropolitan cities, rose 4.6% year-over-year, compared to 4.4% in December. Plus, cities including Denver and Miami showed the greatest price inflation, with prices rising 8.4% and 8.3%, respectively. This comes after a deceleration in home price gains for well over a year. TheStreet’s Scott Gamm speaks with David Blitzer, the chairman of the index committee at S&P Dow Jones Indices to discuss the factors driving the recent momentum in prices, along with how the Federal Reserve’s looming policy shift affects the speed at which buyers move into the housing market.
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