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.
{ 2 comments… read them below or add one }
Dave Smith 03.25.08 at 3:25 pm
John,
Where do you get these PDF press releases on the Case-Shiller Report.
I can’t find them on the S&P Website. I see the raw data downloads but don’t know where to find the press release pdfs. Help!
John Wake - Real Estate 03.25.08 at 8:49 pm
From their website, it’s something like;
United States/
About S&P/
Press Room/
News (left nav)/
Indices tab (top nav)