Phoenix Leads Home Price Increases

In a recent article in the Phoenix Business Journal, it was reported that home values in both the metro Phoenix and Arizona markets eclipsed the rest of the nation once again in June......by a long shot. 

Core Logic reported on August 7 that Phoenix area home values, including distressed sales, surged nearly 17 percent year-over-year in June----the highest percentage of any metropolitan area in the nation.  In second place was Houston at 4.5% and then Washington DC Market at 3.3%. 

Statewide, the number was 13.8% eclipsing Idaho at 10.4% and South Dakota at 10.1%.  This compares to Nationwide numbers of 2.5% year over year and 1.3% up from May.  The good news is that only 4 states showed year over year declines.

More and more evidence is pointing to a sustainable housing recovery.