(See recent posts on Phoenix Case-Shiller Home Price Index.)
… but increasing at a decreasing rate
Phoenix Homes Appreciation Slows in September
Greater Phoenix home prices appreciated 0.8% between August and September compared to appreciation of 1.6%, 1.8% and 1.1% in the previous 3 months, according to my analysis of Case-Shiller data.
Well, 0.8% appreciation in one month is still very large but we’re obviously seeing the tailing off of the appreciation surge. We’ve now seen 5.3% appreciation in 4 months, that’s a normal year’s worth of appreciation in only 4 months. Will we ever have a “normal” market again!