Home prices rise 12.2 percent, best in 6 years

WASHINGTON • U.S. home prices jumped 12.2 percent in May compared with a year ago, the biggest annual gain since March 2006. The increase shows the housing recovery is strengthening. The Standard & Poor’s/Case-Shiller 20-city home price index released Tuesday also surged 2.4 percent in May from April. The month-over-month gain nearly matched the 2.6 percent increase in April from March — the highest on record. The price increases were widespread. All 20 cities showed gains in May from April and ...

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