News Analysis Home prices across the western United States continue to increase at a very high rate, but the rate of growth slowed in August from July. Phoenix remains the hottest market in the US, with home prices there increasing by a full third (33.3 percent increase) during the 12 months ending on Aug. 31. According to data (pdf) compiled using methodology developed by Nobel Laureate Robert Shiller, home prices across the entire country were up 19.8 percent during the 12 month period ending in August. San Diego home prices increased the second-most during the 12 month period—up 26.2 percent. San Francisco housing prices were up 21.2 percent. The other California city reviewed by S&P, Los Angeles, was one of only two western housing markets where home prices increased by less than the national average. Los Angeles saw many people leave for other regions during the pandemic. Even so, home …