Phoenix Home Prices Rising Faster Than Any U.S. City
Home prices continue to rise across the country — in some cities more than others. For Phoenix, it's a lot more. In fact, the latest numbers show Phoenix with the highest home-price appreciation in the country.
Nationally, home prices were up 3.3% year over year. That's according to new, October numbers from the S&P CoreLogic Case-Shiller home price index.
Phoenix saw the highest rise in home-prices with a 5.8% year-over-year increase. That's good news for sellers looking to get top value for their homes but tough news for buyers entering the market.
"From a buyer perspective, you're trying to look at the data of what things are selling for in a neighborhood and make a good judgment call on value but the next house is selling a little bit higher, a little bit higher," said Sindy Ready, real estate broker with Re/Max.
Prices have been rising in Phoenix faster than any other U.S. city since last summer.