Housing-price recovery hits new milestone

The Valley's epic home-price slide reached another recovery milestone in January, the first month in nearly three years with a single-digit annual rate of decline, according to preliminary data from Arizona State University's Repeat Sales Index. ASU professor Karl Guntermann said January's year-over-year decline of 9 percent continues a stabilizing trend that has been consistent for several months. The rate was 17 percent in November, and preliminary figures indicate a 13 percent rate of decline in December, according to Guntermann.

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