According to the Case-Shiller national index, residential home prices gained at the quickest rate since 2006. Up 5.9 percent, the 10-city index came in just below the 20-city index which had risen by 6.8 percent. At the end of 2012, both 10 and 20-city indices were up 0.2 percent.

In the Midwestern real estate market, Chicago, Cleveland, Detroit and Minneapolis all reported fallen prices month-over-month. Relatedly, Portland, Seattle and Denver, as well as Dallas and Charlotte, and Washington, D.C. and New York reported fallen prices, as well.

Market gains in housing prices were reported in Las Vegas (up 1.8 percent), Los Angeles (1.1 percent), as well as San Francisco, Phoenix and Miami. Las Vegas' numbers topped the list, proving a steady month-over-month gain. On a year-over-year average, Las Vegas came in at 12.0 percent, just above Minneapolis.

During the fourth quarter, quarterly index figures fell for the first time since the beginning of 2012. However, the index had risen year-over-year for the third consecutive quarter.

The highest year-over-year price recovery was reported in Phoenix, having maintained an over 20 percent improvement for four months in a row. In Las Vegas, home prices are still lower than their all-time high by just over 56 percent.