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Twin Cities home prices show strong gains

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Home prices in the Twin Cities finished 2012 with their strongest gains in more than a decade, according to a new report Tuesday.

Standard & Poor's Case-Shiller index show Twin Cities home prices in December up 12 percent compared to the same month the previous year. That is the Twin Cities' biggest annual price gain since 2001.

Other major metro markets around the country reported big improvements in December as well. The overall Case-Shiller 20-city index finished the year up about 7 percent.

However, prices remain shy of their peak a few years ago. Twin Cities home prices are still off roughly 26 percent.