Phoenix metro home prices down 2.2% year over year.

Phoenix metro home prices down 2.2% year over year.
by Kaushik Sirkar, Chandler REALTOR®
Chandler Arizona Real Estate

As posted in today's Arizona Republic, metropolitan Phoenix saw home prices decline 2.2% from Q1 06' to Q1 07' (268,300 to 262,500).  All told, 62 metro areas across the country saw home price decreases during this time frame.  But Phoenix's drop pales in comparison to places such as Elmira, NY (14.9%), Sarasota FL (12%) and New Orleans, LA (10.9 %).

Not everyplace was going down, however.  Cumblerand, MD (+ 17.1%), Biloxi, MS (+15.7%) and Salem, OR (+15.6%) all saw substantial appreciation during the same timeframe...

Nationwide, the median price fell from 216,100 to 212,300.

Thanks for Reading :)

Kaushik Sirkar, Chandler Realtor®
http://www.homesphx.com