Phoenix-Mesa-Chandler, AZ
House prices for this metro area, real and nominal, since FHFA's series begins.
FHFA purchase-only · 1991 Q1 to 2026 Q2 · real terms in 2024 dollars · built 2026-10-31
All metro areas · this area is phoenix on the rankings
The index
Real and nominal, first quarter of the series = 100; the shaded band is 2007 to 2012.
How this is measured
Real terms deflate each quarter by that year's US CPI, stated in 2024 dollars; the CPI runs to 2024, so later quarters sit at 2024 prices until the next print. Purchase-only means repeat sales of the same homes with refinance appraisals excluded, the cleaner of FHFA's two indices, published for the 100 largest metro areas.
One year
One year real +0.7%
nominal +0.7%
Five years
Five years real +9.3%
nominal +26.5%
Ten years
Ten years real +66.0%
nominal +117.0%
Twenty-five years
Twenty-five years real +110.7%
nominal +273.2%
Since 2000
Since 2000 real +120.8%
nominal +302.2%
2007 to 2012
crash, real −55.8%
2007Q1 to 2011Q3
Year by year
Fourth quarter of each year, nominal and real, newest first.
| Quarter | Nominal | Real (2024 $) | Real, year on year |
|---|---|---|---|
| 2026 Q2 | 624.1 | 624.1 | real year on year +0.5% |
| 2025 Q4 | 621.0 | 621.0 | real year on year +0.1% |
| 2024 Q4 | 620.4 | 620.4 | real year on year −0.6% |
| 2023 Q4 | 606.4 | 624.3 | real year on year +1.8% |
| 2022 Q4 | 572.4 | 613.5 | real year on year −4.0% |
| 2021 Q4 | 552.3 | 639.4 | real year on year +23.1% |
| 2020 Q4 | 428.4 | 519.3 | real year on year +13.3% |
| 2019 Q4 | 373.5 | 458.3 | real year on year +6.2% |
| 2018 Q4 | 345.4 | 431.5 | real year on year +5.4% |
| 2017 Q4 | 319.9 | 409.3 | real year on year +5.6% |
| 2016 Q4 | 296.7 | 387.8 | real year on year +6.1% |
| 2015 Q4 | 276.1 | 365.4 | real year on year +9.1% |
| 2014 Q4 | 252.9 | 335.1 | real year on year +2.5% |
| 2013 Q4 | 242.8 | 327.0 | real year on year +16.3% |
| 2012 Q4 | 205.8 | 281.2 | real year on year +21.5% |
| 2011 Q4 | 166.0 | 231.4 | real year on year −1.2% |
| 2010 Q4 | 162.8 | 234.2 | real year on year −14.1% |
| 2009 Q4 | 186.5 | 272.6 | real year on year −13.2% |
| 2008 Q4 | 215.5 | 314.0 | real year on year −30.7% |
| 2007 Q4 | 299.4 | 452.9 | real year on year −13.4% |
| 2006 Q4 | 336.2 | 523.2 | real year on year +1.1% |
| 2005 Q4 | 322.3 | 517.7 | real year on year +34.1% |
| 2004 Q4 | 232.4 | 386.0 | real year on year +16.0% |
| 2003 Q4 | 195.2 | 332.9 | real year on year +5.5% |
| 2002 Q4 | 181.0 | 315.7 | real year on year +3.8% |
| 2001 Q4 | 171.7 | 304.1 | real year on year +3.2% |
| 2000 Q4 | 161.8 | 294.7 | real year on year +2.6% |
| 1999 Q4 | 152.6 | 287.4 | real year on year +4.8% |
| 1998 Q4 | 142.6 | 274.3 | real year on year +4.7% |
| 1997 Q4 | 134.1 | 262.0 | real year on year +2.5% |
| 1996 Q4 | 127.8 | 255.6 | real year on year +1.9% |
| 1995 Q4 | 121.8 | 250.8 | real year on year +2.6% |
| 1994 Q4 | 115.5 | 244.5 | real year on year +4.1% |
| 1993 Q4 | 108.1 | 234.8 | real year on year +1.6% |
| 1992 Q4 | 103.3 | 231.0 | real year on year −1.5% |
| 1991 Q4 | 101.8 | 234.5 | — |
2026 Q2624 · real 624real year on year +0.5%
2025 Q4621 · real 621real year on year +0.1%
2024 Q4620 · real 620real year on year −0.6%
2023 Q4606 · real 624real year on year +1.8%
2022 Q4572 · real 614real year on year −4.0%
2021 Q4552 · real 639real year on year +23.1%
2020 Q4428 · real 519real year on year +13.3%
2019 Q4373 · real 458real year on year +6.2%
2018 Q4345 · real 432real year on year +5.4%
2017 Q4320 · real 409real year on year +5.6%
2016 Q4297 · real 388real year on year +6.1%
2015 Q4276 · real 365real year on year +9.1%
Source
FHFA House Price Index, purchase-only, quarterly, not seasonally adjusted, CBSA 38060. Real terms by the World Bank's US consumer price index, annual.