Phoenix home price growth reached a whopping 20% in March, leading the nation for the 22nd consecutive month, according to the latest results of the S&P CoreLogic Case-Shiller Indices.

With the national average now 13.2%, San Diego came in second, with a year-over-year price gain of 19.1%, followed by Seattle with an 18.3% increase that month.

The competition for the relatively few homes on the market shows no signs of slowing down as summer approaches, said Matthew Speakman, an economist for Zillow Group Inc. (Nasdaq: Z).

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By: Angela Gonzalez, Senior Reporter - Phoenix Business Journal