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Home Prices: Strongest Gain Since 2006

(CNN) — There’s another encouraging sign from the housing market.

U.S. home prices posted their strongest gains since 2006 in the first quarter of the year. Prices were up 10.2 percent, according to the S&P/Case-Shiller Index.

The co-founder of the index cautions that the strong gains over the past year may be a bit of a statistical mirage.

Robert Shiller points out that foreclosure sales are down and that has boosted average home prices.

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