Aug 31 2016 Market Update Phoenix Up 60 Percent From 2011

Aug 31 2016 Market Update Phoenix Up 60 Percent From 2011

Another S&P/Case-Shiller® Home Price Index® report has been released this morning. This one covers sales in the 3 month period April through June 2016. Based on the annual change in the HPI here is the ranking table for the 20 cities covered by the report:

  1. Portland 12.6%

  2. Seattle 11.0%

  3. Denver 9.2%

  4. Dallas 8.9%

  5. Tampa 7.9%

  6. Miami 6.9%

  7. San Francisco 6.4%

  8. San Diego 6.4%

  9. Atlanta 5.8%

  10. Las Vegas 5.7%

  11. Los Angeles 5.3%

  12. Detroit 5.1%

  13. Phoenix 5.1%

  14. Minneapolis 5.1%

  15. Charlotte 5.1%

  16. Boston 4.7%

  17. Chicago 3.3%

  18. Cleveland 2.5%

  19. Washington DC 2.0%

  20. New York 2.0%

Most of these percentages are just a tad lower than last month. The exceptions are Portland, Seattle, Miami,Tampa, Charlotte and Las Vegas. Phoenix is at the national average of 5.1%, completely unexceptional

Examining the extent of the bounce from the bottom, here is how the index has changed since August 2011, 5 years ago:

  1. San Francisco 69.0%

  2. Phoenix 60.0%

  3. Las Vegas 58.9%

  4. Miami 52.4%

  5. Portland 50.9%

  6. Seattle 47.8%

  7. Los Angeles 47.7%

  8. Denver 46.9%

  9. Detroit 46.6%

  10. San Diego 45.7%

  11. Tampa 41.5%

  12. Dallas 41.1%

  13. Minneapolis 32.3%

  14. Atlanta 29.4%

  15. Charlotte 24.4%

  16. Boston 22.4%

  17. Washington DC 16.6%

  18. Chicago 14.1%

  19. Cleveland 9.9%

  20. New York 7.6%

The West Coast and Mountain West has out-performed the rest of the USA though Florida has had a strong recovery too.

Note that oft-ridiculed Detroit has been a strong performer since August 2011, coming out ahead of San Diego and Dallas.


Dave Zajdzinski Headshot
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Dated: August 31st 2016
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