San Diego home prices have reached their highest level in more than 4 1/2 years, said the S&P/Case-Shiller Home Price Index on Tuesday.

The local market's index came in at 167.84 in March, the highest since August 2008, according to the monthly report, which has

a two-month lag. March prices are up 12 percent from the same time a year ago. That marks the second double-digit annual increase for two consecutive months.

All 20 U.S. metros featured in the report posted year-over-year increases for the third straight month, the report said. A dozen of those 20 areas recorded double-digit annual growth. When looking at the price performance for all 20 metros together, analysts saw the best year-over-year returns in seven years.

Source: UT San Diego