The housing prices recorded solid gains in U.S.

The housing prices rose 10.9 % in March from a year earlier , the biggest gain of this type in seven years, according to an index that tracks housing prices in 20 U.S. cities.

The Case-Shiller index of Standard & Poor’s , released Tuesday , showed that all 20 cities had reported annual growth for the third consecutive month, the latest sign that the reduced inventories and increased demand for housing has led to an increase in housing prices after several years of declines.

There are already signs that the appreciation of housing prices is on track to continue its rapid pace in the coming months as the inventory of homes for sale has remained low and buyer urgency has increased , driven by increased confidence consumer and mortgage rates hovering near historic lows .

Prices rose 1.4% in March compared to February and 0.3 % in February compared to January , a period in which sales volumes , and consequently growth rates – typically slow for winter weather U.S. Housing prices have not risen in the first quarter since 2006 , and the quarterly increase of 1.8 % this year was the highest for the period from January to March 2005.

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