Home prices post strongest gains since 2006

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San Francisco led the way with the strongest growth, where prices in the already-costly market were up 4.3 percent in May and 24.5 percent in the last year. However, other cities that were hit particularly hard by the housing crisis are also showing signs of life.

Atlanta, Las Vegas and Phoenix all posted gains above 20 percent in the last year, and even ailing Detroit, which recently declared bankruptcy, posted a 19 percent gain on home prices.