News Article From: 11-27-2012
Phoenix leads as home prices rise in most cities across the nation
Standard & Poor's/Case-Shiller reported Tuesday that its 20-city index of home prices rose 3% in September compared with the same month last year. Across the nation, prices increased in 18 of 20 cities over the 12-month period. In Phoenix, prices jumped 20.4% over that stretch to lead all cities. Steady increases in home prices have helped drive a modest recovery in the housing market. Rising prices encourage more potential buyers to come off the sidelines and purchase homes. And more people may put their homes on the market as they gain confidence that they can sell at a good price. Higher home prices can also make homeowners feel wealthier and more likely to spend more.
Read article - East Valley Tribune