Home Value, Depends On Your ZIP Code...

Home value: Up or down? Depends on your ZIP code, from The Arizona Republic reports that if you live in central Phoenix, north Scottsdale and patches of the East or West Valley, you don't need to fret. Average home prices in those areas are still climbing - and climbing rapidly, in some cases. In other pockets around metropolitan Phoenix, the average price of an existing home dropped 6, 7, even 12 percent from the fourth quarter of 2005 to the first quarter of this year. An analysis of sales by ZIP code shows most areas saw average home values climb, if only by a little bit, during the first part of this year. About a third of all metropolitan Phoenix neighborhoods experienced drops in price, according to figures from the Arizona Regional Multiple Listing Service.

http://www.azcentral.com/news/articles/0630zipsales0630.html