The sharp increase in home prices in Phoenix and Las Vegas is leading some real estate experts to say both areas are seeing price bubbles. Bloomberg reported with prices on the rise 21 percent in Phoenix and 23 percent in Las Vegas, according to the S&P/Case-Shiller index, that prices can go down quickly as well. The two markets were the hardest hit during the recession, with homes in each losing between 50 and 60 percent of their value.
Reported by bizjournals 15 hours ago.
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