January marks the fifth straight month of record-high home prices nationwide and hit a 31-month peak of increasing housing prices, according to the Case-Shiller Home Price Index.
According to the report, January saw a 5.9 percent increase over the previous year, up from 5.7 percent the month before.
Economists note that the price increases are sustainable but that potential interest rate hikes could affect them in the future.
The nature of the price increase is also varied, with some regions seeing bigger increases than others and within metro areas, price rises are also uneven.
Read more at Chicago Agent Magazine here.