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Home prices rise, inventory shrinks

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Greater Boston housing prices rose solidly in January, continuing the trend of steadily increasing home values, according to a closely watched index that measures the nation’s housing markets.

The S&P/Case-Shiller Home Price Indices reported Tuesday that Boston-area home prices rose 9 percent in January from a year earlier. Nationally, home prices rose 13 percent during the same period.

“Expectations and recent data point to continued home price gains for 2014,” David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, said in a statement. “Although most analysts do not expect the same rapid increases we saw last year, the consensus is for moderating gains.”

Greater Boston prices rose about 10 percent in 2013, according to the Case-Shiller indices.

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