That matches the record set in the early 1990’s. Metropolitan Phoenix will surely break that record as more monthly data rolls in.
Southwest Valley homes fared the worst during the 12-month period ending in June, with a 35.8 percent drop in value. Same-home sale prices in the northeast Valley diminished the least, at 14 percent.
Homes values declined by 25.6 percent in Phoenix, 28.4 percent in the northwest Valley and 23.7 percent in the southeast Valley.