Report: Some Ariz. home prices finally going up

TEMPE, Ariz.

An analysis of home sales in the Phoenix metropolitan area shows year-over-year price increases in some segments for the first time in three years.

Tuesday's report from the W. P. Carey School of Business at Arizona State University showed that both the lower end of the market and the foreclosure segment posted price increases in March.

Overall though, the ASU-Repeat Sales Index shows that prices for all sales dropped just 3 percent in March compared to a year earlier. In February that number was 7 percent, and in January it was 9 percent.

ASU Professor Karl Guntermann says the entire real estate market is finally showing steady improvement.

Preliminary figures show the median price for single-family homes sold in March was $132,000, up from $125,000 in January.