Home prices down in the first quarter....EXCEPT ARIZONA!

Housing prices are flat, but that's definitely a plus, from the Arizona Republic, reports that California, Nevada, Florida and Arizona led the nation for housing price jumps a few years ago during the boom. Now, home prices are down in all the states except Arizona. According to figures released last week by the Office of Federal Housing Enterprise Oversight, during the first quarter of 2007, appreciation fell 0.84 percent in California, 0.34 percent in Florida and 0.52 percent in Nevada. Arizona showed a 0.13 percent gain for the first quarter. Home prices fell in 22 of the 26 California cities ranked by the federal agency. In Florida, appreciation was down in 13 of the 18 cities. Based on the drops in these other cities, our flat appreciation rate looks pretty good.

http://www.azcentral.com/arizonarepublic/business/articles/0603biz-catherine0603.html