Home prices continued to gain in March, as forecast. The U.S. national index climbed 5.8 percent annually, up from 5.7 percent in February. Annual growth in the smaller 10- and 20-city indices maintained their February paces of 5.2 percent and 5.9 percent, respectively.

Seattle, Portland and Dallas again reported the largest year-over-year gains among the 20 cities. Seattle grew 12.3 percent in March, while Portland rose 9.2 percent and Dallas posted an 8.6 percent increase.

Monthly growth in the U.S. national index accelerated to 0.3 percent in March, after growing a seasonally adjusted 0.4 percent in February. The 10-city and 20-city indices each rose 0.9 percent in March; the 10-city index was up from 0.6 percent in February, and the 20-city index was up from 0.7 percent.

Below are the actual March Case-Shiller numbers alongside Zillow’s forecasts for that month:

Home buyer demand is sky-high, inventory levels are near rock-bottom and home prices keep rising. These trends have been driving the market for years now, and all recent data – including today’s – points to these dynamics continuing for a while to come. We’re in the thick of home shopping season now, and it’s undeniably a great time to be a home seller: Listings are on and then off the market seemingly in a flash, and multiple offers are the norm in many markets across the country. Buyers, though, face a different and more daunting reality – competition is fierce, budgets may be strained and nerves will be frayed. Prepared, patient buyers that have been prequalified and have done their research will find the most success. And sooner or later, these conditions will change as builders bring more inventory on line, more home sellers come out of the woodwork and home price appreciation cools in the face of slowly rising mortgage interest rates. But for now and the foreseeable future, I’m not exactly holding my breath.

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