Phoenix housing market overvalued, but don’t expect a new bubble

Phoenix homes are overvalued.

That's according to the latest CoreLogic Home Price Index, which this week pegged Phoenix's housing market as one of many across the country as being overvalued.

From February 2017 to February 2018, home prices in Phoenix grew 6.7 percent.

The biggest reasons for the assessment seem to be population growth combined with a lack of desirable housing inventory in the neighborhoods people want to live.

That's good news for sellers in those desirable areas, who likely…

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