Chart 3

The title is "Pittsburgh and Philadelphia Housing Markets Are Cooling Like the Nation."

A line chart showing the year-over-year growth rate in the Housing Price Index. In 1996, the Housing Price Index grew by 3.5% in the United States, 3.2% in Pittsburgh, and 1.2% in Philadelphia. In 1998, the Housing Price Index grew by 5.1% in the United States, 4.7% in Pittsburgh, and 3.2% in Philadelphia. In 2000, the Housing Price Index grew by 7.1% in the United States, 3.6% in Pittsburgh, and 5.2% in Philadelphia. In 2002, the Housing Price Index grew by 7.3% in the United States, 5.4% in Pittsburgh, and 10% in Philadelphia. In 2003, the Housing Price Index grew by 6% in the United States, 4.3% in Pittsburgh, and 8.4% in Philadelphia.