(See recent posts on Phoenix Case-Shiller Home Price Index.)
Seattle Bubble blog made this great visualization of Case-Shiller Home Price Index data showing the number of years of appreciation that have been “lost” with the real estate bust.
Phoenix home prices are where they were in January 2000, according to Case-Shiller data so it’s actually more than a lost decade, 11.7 years. But, in fact, the Case-Shiller Index is NOT adjusted for inflation so real, inflation-adjusted home prices in Phoenix are somewhere in the 1990’s.
My ballpark estimate is that if you take into account inflation, Phoenix home prices today are about 24% less than in January 2000.
If you aren’t already working with a Realtor you trust, call me at (480) 463-4475 and I or a Realtor I trust would be honored to help you.