Real Estate Charts
The above chart estimates the market value of today's median-priced Phoenix, Arizona metropolitan area house from 1989 until present. The red line represents inflation-adjusted house prices. The blue line represents nominal house prices.
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Data sources and methodology
- Latest quarterly, median, existing, single-family home price provided by the National Association of Realtors.
- Trailing house price index data provided by Standard & Poors.
- Inflation data provided by the Federal Reserve Bank of Cleveland.
The chart on this page estimates the market value of today's median-priced house over time. The trailing nominal prices are derived by taking the recent median price of existing single-family homes, as reported by the National Association of Realtors, and discounting it by the S&P/Case-Shiller Home Price Index. The S&P/Case-Shiller HPI is a "constant quality" index, so even though houses are built larger today than they were many years ago, this graph automatically adjusts for this variation. The trailing inflation-adjusted prices are then derived by adjusting the nominal prices by the CPI-U Research Series Using Current Methods.