Drastic home-value declines slowing in the West Valley

Home values in most Northwest Valley cities continued to decline in 2010, but at a slower pace than in past years and with higher-end homes feeling more heat of foreclosures and short sales. A few areas even had a slight increase in values compared with 2009, according to an Arizona Republic analysis of data from the Information Market. Sun City West and El Mirage - along with the southwest cities of Goodyear and Tolleson - saw slight upticks in overall median home values, the first time any ZIP codes in Maricopa County have had a year to year increase since 2007. "There is a sort of strip of the northwest that is in reasonable shape," said analyst Mike Orr, who publishes the "Cromford Report," a housing-market update. "If we look at Peoria, in the 85381 and 85382 ZIP codes, and at Sun City West and Surprise in the 85387 ZIP code - those are the areas which have had the least amount of impact from foreclosures. They stand out from the rest of the area. El Mirage stands out and so does south Glendale."

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