Phoenix home prices dropped slightly more than the average of the 20 biggest American cities between December of last year and January of this year.
The S&P/Case-Shiller Home Price Index shows home values in the 20 biggest cities in the country dropped 0.1 percent. Phoenix’s drop over that time was 0.2 percent. Chicago had the biggest drop, followed by Seattle and Detroit. Las Vegas had the biggest price gain over that time, followed by Miami and San Diego. Only seven of the 20 cities showed price gains in January from December.
Over the 12 months ending in January, the 20-city index rose 13.2 percent. Phoenix’s increase over that time was nearly 14 percent. Las Vegas’ increase was almost 25 percent, again the biggest in the country, followed by San Francisco, LA and Atlanta. All 20 cities in the index saw gains in home prices over that time.
