The S&P / Case-Shiller® Home Price Index® (HPI) was published last week for the three month period July through September. Ranking the 20 cities by their change from last month we see the following table:
On September 30 we predicted that the HPI for Phoenix would start declining. Since the HPI measures sales that are several months behind us, it is not too tricky to predict HPI movements with reasonably good accuracy..
Comparing the change over the last 12 months we get: