Today Case-Shiller published their home price index through January 2015.

You can see that Phoenix home prices have been pretty flat for over a year.

Case-Shiller March 2015

Tight Supplies

All the talk in the Phoenix real estate industry is the tight supply of homes and what that means for current and future home prices in metro Phoenix.

A quick tour of the inventory of homes for sale in Valley cities shows that, in general – and except for Paradise Valley, Scottsdale and Fountain Hills – the months supply of homes for sale is running lower than last year at this time.

This suggests to me that home prices in most areas of metro Phoenix will increase more this year than they did last year.

Future Prices

But I really won’t have a good handle on price trends for 2015 until I see the final numbers for March. March is the bellwether month, March sales and prices set the tone for April, May and sometimes June.

Is all the excitement just the usual high season rush or is it a change in the market?

What do you see in your neighborhood? Are prices moving up? Leave your comment below.