Phoenix home prices up in new Case-Shiller index

Phoenix home prices increased 2.5 percent in April from March, according to the latest Standard & Poors/Case-Shiller Home Price Index out this morning. The Phoenix rise is the best among major U.S. markets in the index. The same index also shows Phoenix home prices were up 8.6 percent in April from April 2011. That’s also the best performing U.S. market. Both those numbers show improvements in the recovering Phoenix area housing market. The Valley’s housing market was hit hard by the recession and real estate slide but is now seeing home purchased by investors and decline in foreclosures.

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