Case-Shiller Home Price Indices updated through December 2007

(See recent posts on Phoenix Case-Shiller Home Price Index.)

The home price depreciation in Phoenix continues to accelerate according to the latest Case-Shiller numbers.

From November to December the Phoenix Home Price Index fell 3.6% which was even larger than the crazy large decline the previous month, 3.2%. From June to December prices fell 11.7%. Yikes!

If anything close to that rate continues, Phoenix home prices should “bottom out” in 2008.

The Case-Shiller index, however, obscures the large differences within metro Phoenix sub-markets.

February 27, 2008 by Realtor John Wake

About The Author

John Wake

Born in Phoenix, trained as an economist and now a licensed Realtor, John uses hard data from the real estate market to help his clients -- buyers and sellers of residential real estate -- uncover their best choices for finding the right home or finding a buyer for their current home.

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