Phoenix tops Zillow list

Phoenix topped real-estate portal and online valuation service Zillow's list of metro areas expected to achieve growth in home values in 2013 in a report issued Tuesday. According to Zillow, the Phoenix area is expected to experience a 6.5 percent increase in median home price in 2013 compared with the current year. The first runner-up was Miami-Fort Lauderdale with an expected median-price increase of 5.6 percent, followed by Tampa with an expected 2.5 percent increase. According to Zillow, the predictions are based on data from past home-value trends and current market conditions, including leading indicators such as home sales, monthly housing-inventory supply and jobless rate. An Arizona State University report issued Thursday said the Phoenix area's median single-family-home price was up more than 20 percent in March compared with a year earlier. The number of foreclosures completed in March was down a whopping 60 percent from March 2011, according to ASU real-estate analyst Mike Orr, who wrote the report.

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