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Home prices continue upward trajectory

S&P Dow Jones released its S&P CoreLogic Case-Shiller index update Tuesday. Home prices in the U.S. rose 5.8% year-over-year through February. Home prices in the 10 largest cities advanced 5.9%, led by the Dallas/Ft. Worth area, where home prices grew 8.8%.

February marked the 13th consecutive month of growth and the index's record high since its inception in January 1987. The index crossed its previous July 2006 high in November. Home prices in the largest 20 cities have experienced a slower recovery from their 2006 highs, but have had positive year-over-year growth in 20 of the past 24 months.