Arizona home sale prices still off 29 percent from pre-recession peak

First-time home buyers

moneyhousessold*304By Mike Sunnucks | Phoenix Business Journal

Home sale prices statewide are up 8.8 percent compared with last year and 8.5 percent in the Phoenix area, but still have a long ways to get back to pre-recession values.

The CoreLogic research group reports Arizona home sale prices were still down 29.2 percent in May compared with April 2006, when U.S. home prices peaked before the market collapsed.

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