Phoenix replaces Seattle among top three home-price gainers

By Aaron Terrazas | Zillow

The U.S. National S&P CoreLogic Case-Shiller Home Price Index — which tracks home prices — rose 5.5 percent in October from a year earlier, a hair above Zillow’s forecast last month.

The S&P CoreLogic Case-Shiller 20-city index climbed 5 percent annually in October, while the 10-city index rose 4.7 percent.

Zillow forecasts a steady 5.5 percent annual gain for November.

Home prices were steady in October, gaining 5.5 percent year-over-year, the same as September, according to the Case-Shiller home price index. The gain was slightly above Zillow’s forecast, and we expect another 5.5 percent year-over-year increase in November.

Las Vegas led the 20-city index with an annual gain of 12.8 percent. San Francisco was next, posting a 7.9 percent year-over-year gain. And Phoenix replaced Seattle in the top three gainers, climbing 7.7 percent year-over-year in October.

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