Phoenix Home Prices Down Slightly Again
Real estate markets across the country (including the Phoenix housing market) seemed to get the jitters in January, according to the recent S&P/Case-Shiller Home Price Index, last released on April 27. In every Case-Shiller market (20 of the country’s largest) except for San Diego, home prices fell slightly in February compared to January.
Yet year-over-year declines continued to slow in many markets, including Phoenix. Some highlights from the most recent Phoenix housing market report:
Month-over-month housing prices fell in the Phoenix real estate market 1.5% in February.
Comparing to a year earlier, Phoenix home prices are still down, but those declines continue to shrink. Phoenix housing prices were off 1.6% in February compared to February 2009. That’s a vast improvement in year-over-year price changes; in January 2009, prices of Phoenix homes were down 35% compared to January 2008.
The Phoenix real estate market has fallen about 50% since the peak in June 2006.
To see charts and tables, and read more in-depth highlights, check out my Phoenix Real Estate Blog: Phoenix Home Prices Down Slightly.
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