Phoenix home prices up 6% in January, market considered 'overvalued'

Phoenix Business Journal

Phoenix home prices were on the rise through 2017 and now into 2018, but the market is one of a couple dozen in the U.S. now considered overvalued, according to the CoreLogic Home Price Index.

The latest results, released Tuesday, show home prices in January 2018 were up 6 percent for the Valley, but are still about 15.7 percent below peak home prices hit in 2006. Phoenix was one of the hardest hit during the housing crash included in the Great Recession.

While home prices haven’t recovered to…

Source: Residential News