Home appreciation in the metro Phoenix area has been robust as I detailed In Sellers are Profiting from Equity. I gave the numbers available at that time, but the latest data shows that the gains set forth in that blog were conservative. Using January 2023 sales to date, the rate is 25% for 2 years; 50% for 3; 63% after 4 years; 70% for 5 years and a staggering 86% over 6 years or more.
