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Home Prices in U.S. Rise by Most Since 2006 in March

Home prices rose in the 12 months through March by the most in seven years as the recovery in residential real estate gained momentum.

The S&P/Case-Shiller index of property values increased 10.9 percent from March 2012, the biggest 12-month gain since April 2006, after advancing 9.4 percent in February, a report showed today in New York. The median projection of 30 economists surveyed by Bloomberg called for a 10.2 percent advance.