(See recent posts on Phoenix Case-Shiller Home Price Index.)
Being a real estate agent has now become an extreme sport with cliff diving home prices.
Phoenix homes have depreciated 29% from their peak value in June 2006 according to my analysis of the Case-Shiller data.
Let’s say that another way; Phoenix homes were 41% more expensive in June 2006.
From March to April, metro Phoenix Arizona home prices fell 3.4%, according to the S&P/Case-Shiller Home Price Indices.
As always, the Case-Shiller index obscures the large differences within metro Phoenix sub-markets. This web site, ArizonaRealEstateNotebook.com, is the best I’ve seen for allowing you to look at real estate trends by zip code and to tease out trends within the metro Phoenix area.