Phoenix Arizona Grabs Top Real Estate Appreciation

In the second quarter of 2005, the median house price for the Phoenix-Mesa-Scottsdale (East Valley) area had the highest level of annual appreciation at 47%. This equates to a median house price of almost a quarter million dollars.

The strongest price increase in the nation was in the Phoenix-Mesa-Scottsdale area of Arizona, where the second quarter price of $243,400 rose 47 percent from a year earlier. Next was Cape Coral-Fort Myers, Fla., at $266,800, up 45.2 percent from the second quarter of 2004. Third was the Palm Bay-Melbourne-Titusville area of Florida, with a second quarter median price of $204,000, up 40 percent in the last year.