Valley median existing home price rises

The latest Arizona State University-Repeat Sales Index shows the Valley's median existing home price increased for the seventh straight month, reaching $130,000 in September compared to $126,500 in August. Valley home prices continue to flatten [http://www.eastvalleytribune.com/story/147597] Valley new-home sales up, prices down [http://www.eastvalleytribune.com/story/147479] The report shows Valley home prices fell 23 percent from September 2008 to September 2009, down slightly from the 25 percent decline from August to August and the 28 percent drop from July to July. Preliminary estimates for October and November have prices declining at 20 percent and 17 percent, respectively. "The median price continues to move up. It's actually up 15 percent from the low in April ($117,500)," said Karl Guntermann, a real estate professor in the W.P. Carey School of Business at ASU. "That's good appreciation, but things are so bad that you're just recovering some of the loss."

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