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Home prices make largest year-over-year jump in 6 years

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Editor's note: This story has been updated. The S&P/Case-Shiller 20-City Composite index posted its largest year-over-year gain in January since the summer of 2006. The index, which tracks single-family home prices in 20 large U.S. metros, was up 8.1 percent in January from a year ago with all 20 areas including New York, which hadn't seen year-over-year positive light in 28 months, registering gains.Nineteen of the 20 metros saw home prices jump higher in January from the previous year than they did in December with each area but New York (0.6 percent), Chicago (3.3 percent), Boston (4.0 percent) and Cleveland (4.8 percent) showing greater than 5 percent year-over-year leaps.Source: S&P Dow Jones Indices & Fiserv The January Case-Shiller report shows strong price increases, said Trulia Chief Economist Jed Kolko. "We're seeing prices increase both in markets that had a really big decline during the bust," he said, "as well as markets that have really strong f...