It’s no surprise that we’re all waiting (me included) with baited breath to see if the economic and real estate recoveries are for-good, or if we fall into a double dip. Yet by many measures (including the widely used S&P/Case-Shiller Home Price Index, last released on December 29), the housing market – in Phoenix and around the country – continues to improve.
Some highlights from the report:
- Home prices have been rising for a while in a number of cities, including San Francisco (7 months in a row), San Diego (6 months in a row), and Los Angeles and Phoenix (5 months in a row).
- Overall, home prices were still down compared to a year earlier, but price declines have been slowing for nine straight months.
- Looking at the trend in Phoenix home prices since 1987, home values in the Phoenix real estate market continue to appreciate, despite the most recent bubble and bust.
To see charts and tables, and read more in-depth highlights, check out my Phoenix Real Estate Blog: Phoenix Home Prices Up for 5th Straight Month.
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