NEW YORK CITY—In another sign of the economy coming back to life, the S&P/Case-Shiller Home Price Indices, which was released on Tuesday, shows dramatic increases in recent home prices across much of the country.

Data released by S&P Dow Jones Indices for the Case-Shiller report, showed average home prices increased 7.3% for the 10-city composite and 8.1% for the 20-city composite in the 12 months ending in January 2013.

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