Quantcast
Home / Home news / Phoenix home prices drop again in December

Phoenix home prices drop again in December

A new report shows home prices in the Phoenix area dropped by 8 percent in December from the same period a year ago.

Wednesday’s preliminary report from the W. P. Carey School of Business at Arizona State University is the latest in a string of dismal reports on area home prices, which have now fallen for five months in a row.

Professor Karl Guntermann says prices will probably continue to fall for the next several months but he’s fairly certain the worst is over.

The median price for homes in December was $114,000, down from $122,300 in December 2009. The median price has remained between $122,000 and $135,000 since 2009.

Foreclosures are driving the declines. ASU professor Jay Butler says 4 percent of Maricopa County homes were foreclosed on last year.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *

*

 

x

Check Also

In this November 13, 2016 file photo, a U.S. Customs and Border Patrol agent passes along a section of border wall in Hidalgo, Texas. The GOP-controlled House is plowing ahead on legislation to give the Pentagon a massive spending boost and deliver a $1.6 billion down payment for President Donald Trump's oft-promised wall along the U.S.-Mexico border.  (AP Photo/Eric Gay)

House GOP advancing spending boosts for border wall, Pentagon, veterans

The Republican -controlled House has given tentative approval to a $1.6 billion down payment for President Donald Trump's long-promised wall along the U.S.-Mexico border.