Newly released numbers show prices continue to fall nationally, with a steeper decline in the Phoenix market. MORE ⬇️
PHOENIX — The S&P Case Shiller index is how Wall Street tracks housing prices across the country, and newly released numbers show prices continue to fall nationally, with a steeper decline in the Phoenix market.
According to the index, a house purchased in Phoenix five years ago would have appreciated 76% during those five years.In two decades, the housing market has experienced three periods of volatility, the worst of which occurred in the six-year period surrounding the Great Recession.The second period of volatility happened from 2012 to 2015 when prices saw a two-year run-up followed by a cooling-off period.
Current trends say yes, and it could show up as early as next month’s update of the index. If it does it will be the first time in a decade that home prices will be negative year over year.
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