No longer top 3: Phoenix drops again in home price growth

Posted at 8:49 AM, Jul 27, 2022
and last updated 2022-07-27 11:49:16-04

PHOENIX — Falling steadily, Phoenix didn't even make the top three metros in home price growth in May, according to the latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index released on July 26.

Phoenix had led the nation in home price growth for nearly three years until earlier this year, when it got bumped to second, then again to third the following month.

With a 29.7% year-over-year increase in May, Phoenix slid down to No. 4 on the S&P CoreLogic Case-Shiller Indices.

Tampa (36.1%) and Miami, Florida, (34%) took the top two spots, while Dallas came in at No. 3, with a 30.8% year-over-year price increase in May. The national index tracked a 19.7% annual gain in May, down from 20.6% the previous month.

Read more of this story from the Business Journal.