Case-Shiller HPI Continued Upward Trend in October

The S&P Case-Shiller house price index edged up 0.2% in October and reached highs last seen in the summer of 2008.

The HPI has risen month-over-month from November 2012. But nine out of the 20 cities tracked by the Case-Shiller index posted slight price declines from September to October.

“After 19 months of gains, San Francisco showed a slight negative return,” according to S&P’s index committee chairman David Blitzer.

Prices are up 13.6% from October 2012. “However, monthly numbers are showing we are living on borrowed time and the boom is fading,” says Blitzer.

He noted most forecasts for home prices point to single-digit growth in 2014.