Home price index hits new high in June; Phoenix growth still off the charts

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Posted at 9:02 AM, Aug 27, 2020
and last updated 2020-08-27 12:02:16-04

Once again, Phoenix is No. 1 in the nation in home price growth, with year-over-year price increases of 9% in June, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

Phoenix price growth far outdistances the next two major metros: Seattle, with 6.5% year-over-year growth, and Tampa, Florida, at 5.9% price growth.

Phoenix's growth is now more than twice the year-over-year national increase, at 4.3%.

Peter O'Neil, research director for NorthMarq, said these results show the resiliency of the Valley housing market.

"Annual price gains in the Phoenix area have been outpacing the national average since early 2018, and the pace of increases has been accelerating in recent months," O'Neil said.

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