(See all posts on Phoenix Case-Shiller Home Price Index.)
The Case-Shiller Home Price Index measures home price appreciation.
Phoenix Home Price Appreciation – August 2011 to May 2013
• Low Price Tier = Up 70%
• Middle Price Tier = Up 42%
• High Price Tier = Up 25%
See the price breakpoints for the 3 tiers below the chart.
Phoenix AZ Case-Shiller Home Price Index
Lower Priced Homes Gaining on Higher Priced Homes
The difference between the Low Tier and the High Tier has been cut in half since August 2011.
Phoenix Home Price Tier Breakpoints for May 2013
• Low Tier – Up to $158,423
• Middle Tier – $158,423 – $257,125
• High Tier – $257,125 and up
The Case-Shiller Home Price Index (press release) is the best estimate of actual home price appreciation (or depreciation). The downside to the Case-Shiller Index, however, is that it runs a little old, the most current data is only through May 2013.
Home prices are way up. Your home is probably worth a lot more than you think. Call me, John Wake of HomeSmart, at 480-463-4475
Inflation Adjusted Case-Shiller Home Price Index for Phoenix, Arizona
Be aware that there are some problems in applying an index to an index but, nevertheless, the results are revealing.