Phoenix saw a 22.8% increase in its Home Price Index at the end of November compared to last year.
It also saw an in increase in the month to month changes as well.
The Phoenix Real Estate Market compared to the previous year same time did far much better then its counter parts.
New York seemed to be the worst showing a decrease in its annual change in HPI.
| Metro Area | HPI ® Nov 2012 | Annual % Change | Monthly % Change |
| Phoenix AZ | 124.16 | 22.8% | 1.4% |
| Los Angeles CA | 176.58 | 7.7% | 0.4% |
| San Diego CA | 163.58 | 8.0% | 0.9% |
| San Francisco CA | 146.23 | 12.7% | 1.4% |
| Denver CO | 134.50 | 7.6% | 0.4% |
| Washington DC | 189.11 | 4.4% | -0.6% |
| Miami FL | 151.13 | 9.9% | 0.8% |
| Tampa FL | 133.77 | 6.8% | -0.2% |
| Atlanta GA | 95.68 | 7.6% | 0.1% |
| Chicago IL | 113.35 | 0.8% | -1.3% |
| Boston MA | 153.74 | 2.3% | -0.9% |
| Detroit MI | 80.33 | 11.9% | -0.3% |
| Minneapolis MN | 126.41 | 11.1% | 1.0% |
| Charlotte NC | 115.41 | 5.1% | -0.3% |
| Las Vegas NV | 100.56 | 10.0% | 0.4% |
| New York NY | 162.86 | -1.2% | -1.1% |
| Cleveland OH | 100.68 | 1.8% | -0.8% |
| Portland OR | 142.13 | 6.7% | -0.2% |
| Dallas TX | 120.55 | 5.7% | -0.1% |
| Seattle WA | 142.53 | 7.4% | 0.5% |
| Composite 10 | 158.28 | 4.5% | -0.2% |
| Composite 20 | 145.82 | 5.5% | -0.1% |
© The Cromford Report.
Another increase in Home Price Index for Phoenix
This is what the Cromford Report had to say
“Phoenix once again had the largest annual increase, with the index rising 22.8%, up from 21.7% last month.
We can see that Phoenix and San Francisco had by far the strongest move month to month, which corresponds to the gains we saw in average $/SF pricing last fall. San Francisco has also leapfrogged Minneapolis and Detroit to become our closest rival for annual gain.
Ten of the cities experienced a month to month decline in the index, attributed in some cases to seasonal effects. The weakest markets at the moment include New York, Chicago and Cleveland, all located in judicial foreclosure states with significant unresolved loan delinquency issues.
Remember that the S&P / Case-Shiller® Home Price Index® lags current market pricing by an average of 2 to 3 months.”
Home values are increasing in the Phoenix Area. As of January 28, 2013 we still have a Comford Market Index is 172.3 indicating we are in a sellers market.
To learn more about how the market is doing in Phoenix, lets have coffee or talk on 480-442-0779.