Phoenix housing market picks up while other major markets slow down

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The Phoenix housing market picked up in the past year while other major markets including Seattle, Sacramento and Portland experienced a slowdown, according to online real estate database company Zillow.

The July 2018 Zillow report found that home values in Phoenix rose 7.7 percent in the last year, with a median home value of $256,000. The average rate of home value growth was 4.8 percent, which the report said is faster than average.

The U.S. as a whole saw home values rise eight percent in the last year, with median home value reaching $218,000.

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