Zillow surveys optimistic on Phoenix home values

Catherine Reagor
The Arizona Republic
May. 8, 2008 12:00 AM

Zillow's surveys of home prices in metro Phoenix are a bit more upbeat than other indexes and reports.

Zillow reports home prices are down almost 16 percent in metro Phoenix during the past year. The Case-Shiller index reports the price decline in metro Phoenix for that period is closer to 21 percent.

Many Valley homeowners might find the online property-valuation firm's estimates of their house's value a little optimistic, too.

Zillow reports the median home price for metro Phoenix is $220,000. The Realty Studies Center at Arizona State University has reported the same figure for the past two months.

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