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Looks like Phoenix prices have a lot of upward momentum

Over on my national website, RealEstateDecoded.com, using Zillow data, I created a new graph which shows you the percentage of homes increasing in value for 20 metro areas.

I’m still checking out the “Percent of Homes Increasing in Value” metric but I think I like it.

It gives me more information than just how fast home prices are rising or falling to estimate changes to the underlying demand.

Phoenix Has Mojo

This new metric shows that Phoenix has a ton of upward price mojo. Only Portland, the hottest market in the country right now, has similar upward momentum.

Portland and Phoenix Mojo

Next Week

I’ll update the “Phoenix Real Estate Market at a Glance” graph next week when the MLS comes out with their April data.

It’ll be interesting to see if this new metric foreshadows changes to Phoenix home prices.

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