Phoenix Home Values decline slightly...

According to the S&P/Case-Shiller Home Price Index, which released its most recent housing data yesterday, March 25, 2014, the Phoenix Metro area's existing-home prices increased by 13.8% between January 2013 and January 2014.  Conversely though, on a month-over-month analysis, the area is showing a decrease in home values as it is further reported by the same index that values in the metro area declined .21% from December 2013 to January 2014. 

What does this mean?  It means the local housing market is cooling off very slightly, normalizing, and becoming more stable.  I believe we will see this trend continue for some time here in the valley.  Gone for now are the days of rapid increases (and hopefully) decreases in value - which is a good thing.  Stabilization brews confidence and is a better environment in which to operate in terms of the housing market.


Andrew Ament, Realtor, Certified Residential Appraiser
www.andrewamentsellsaz.com
www.andrewament.com
www.thebestperspectiveteam.com
www.censeovaluation.com
www.thescottsdalerealestateguy.com (coming soon!)

http://us.spindices.com/index-family/real-estate/sp-case-shiller