BREAKING NEWS
Report: Phoenix home prices increase, best in US
Photographer: ABC15
Copyright 2010 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Posted: 06/26/2012
PHOENIX - Phoenix home prices increased 2.5 percent in April, the best among major U.S. city markets, according to a report published Tuesday.
The Phoenix Business Journal reports the latest Standard & Poors/Case-Shiller Home Price Index also shows Phoenix home prices were up 8.6 percent in April 2012 from April 2011.
That makes it the best performing U.S. market, the Business Journal reports.
The numbers show improvements in the recovering Phoenix area housing market.
Detroit was the only city to record a drop as prices fell 3.6 percent, according to the Associated Press.
The Valley's housing market was hit hard by the recession, but is now seeing a decline in foreclosures, according to the Business Journal.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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