November 23, 2024 9:56 pm
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Why it’s not quite a homebuyer’s market yet in Phoenix

Only Las Vegas saw higher growth than the Valley

By Angela Gonzales | Phoenix Business Journal

While some West Coast cities are beginning to show signs of a buyer’s market, Phoenix isn’t anywhere close.

Demand for homes in Phoenix is still outstripping supply, meaning that the region continues to see fast-rising home prices.

According to the latest S&P CoreLogic Case-Shiller National Home Price Index, Phoenix continues to outpace most of the nation in home price increases, showing a 6.7% bump between February 2018 and February of this year. Las Vegas, at 9.7%, is the only U.S. market with faster home-price growth.

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