That yearly growth rate put Phoenix at No. 7 on the report’s index, which is also where the metro ranked last month. Phoenix has been dropping in the rankingsafter having spent nearly three years in the top spot with year-over-year growth rates well over 30%.
Coming in on top of the list was Miami, where home prices were up 24.6% from last year and dropped just 1% from August. Tampa came in second on the index with a 23.8% increase, and Charlotte in third with a 17.8% increase. Those were also the top three cities in August, and the report said that the South and Southeast were the strongest regions.
The current trend of medium-term deceleration could likely continue, said Craig Lazzara, managing director at S&P Dow Jones Indices, in the report’s analysis.
Source: News Formal (newsformal.com)
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