Arizona 29.5 percent below-peak pricing levels, study says

core-logic

core-logicBy Philip Haldiman, Editor-in-Chief | The Dealmaker

Arizona had the third largest peak-to-current decline in December at -29.5 percent, said a CoreLogic report released Tuesday.

CoreLogic, a real estate analytics firm, released its home price index report, finding that home prices in the U.S., including distressed sales, increased 5 percent in December of last year compared to December 2013.

The home price index includes a number of data that provides indicators in housing trends.

The report also projects that home prices are not expected to change much this month.

Cameron Carter, director of the transactional department at Rose Law Group, said home values in a number of Arizona submarkets have been on the rise, but there are areas throughout the state where homeowners are not yet feeling the effects of the economic recovery.

“We see many clients focusing on real estate projects in areas where jobs and amenities are already available,” Carter said.

The top five states with the largest peak-to-current declines, including distressed transactions, were:

  1. Nevada: -36 percent
  2. Florida: -33.5 percent
  3. Arizona: -29.5 percent
  4. Rhode Island: -29.1 percent
  5. Connecticut: -25.2 percent

 

 

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