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Phoenix, AZ
Rank: 5
Home price forecast: -19.7%
(one year, forecast through March 2010)
Population:
(2006)		 4,039,182
Median family income:
(2008)		 $64,200
Median home price:
(2008)		 $190,000
Affordability index:
(2008 median home price/family income)		 3.0
Prices peaked in: 2006:Q2
Total climb during the boom:
(2000 to peak)		 123.4%
Total decline so far:
(Peak through 2008)		 -44.1%
One-year change:
(Q4 2007 to Q4 2008)		 -32.3%
Price change :
(from peak to bottom)		 -59.2%
When they'll hit bottom: 2010:Q3
At bottom, prices will drop to levels last seen in: 1998:Q4
Notes: The 100 largest markets determined using 2006 Census population figures; metro areas are generally labeled by the largest city in that area. Price data are for single-family homes through the third quarter of 2008, the most recent data available. Forecast change from first quarter 2009 to first quarter 2010. Figures for Q42008 are estimated
Sources: Fiserv Lending Solutions, Moody's Economy.com, Dutchess County Association of Realtors, Illinois Association of Realtors, Real Estate Center at Texas A&M University.
Click map to enlarge
Show: Homes for sale
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Region
Northeast South
Midwest West
Ranking
Top 100 winners only
Population
8.3M
19,457
Home Prices
2007 median sales prices
$1.63M
$50K
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