Arizona Real Estate Notebook

Looking at actual home price appreciation – not median home prices – we see in the last few months through April 2010, according to Karl Guntermann of ASU;

• By Region. Generally, prices were flat in Phoenix and the West Valley while prices fell in the East Valley.
• By Sale Price. Prices of lower priced homes were generally stable while prices of more expensive homes continued to fall.
• Foreclosure / Non-Foreclosure. Foreclosure prices have been ranging from $115,000 to $120,000 since last October but non-foreclosure prices are declining, in April the year-over-year decline for non-foreclosure sales was 8.7 percent.

Carl Guntermann at ASU uses a modified Case-Shiller statistical technique to look at home price appreciation within metropolitan Phoenix. Case-Shiller only looks a home price appreciation in metropolitan Phoenix as a whole. I (John Wake) created the graph above based on Karl Guntermann’s data.