Phoenix Housing Report - thebubblebuster.com

SUMMARY HISTORY PEAKS & TROUGHS FORECASTS

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The insane growth of prior few years has come to an abrupt end and resulted in average price gains for 2006. Price gains were pushed higher thanks to continued job gains and historically low mortgage rates. However, the recent quarterly decline is likely to be a forecast of the near future as price growth cannot sustain prior levels due to poor affordability. Consequently, nominal and real prices should be expected to decline towards the historic level of mortgage debt servicing cost.

SEE PRIOR PHOENIX PEAKS & TROUGHS Next >

Year	Nominal Price History	Nominal Price Growth	Real Price History	Real Price Growth	Phoenix Mortgage-Debt-to-Income Ratio	National Mortgage-Debt-to-Income Ratio
2001	$134,800	6.2%	$152,600	3.5%	16.0%	17.8%
2002	$141,900	5.3%	$156,500	2.6%	15.5%	17.5%
2003	$151,000	6.4%	$163,500	4.5%	15.9%	18.3%
2004	$175,300	16.1%	$185,300	13.3%	17.8%	19.6%
2005	$247,000	40.9%	$254,400	37.3%	25.5%	22.6%
2006	$262,200	6.1%	$262,200	3.1%	25.8%	21.7%

PHOENIX, ARIZONA - Q4:2006