/ Modified apr 30, 2013 8:49 a.m.

Housing Index Puts Phoenix on Top

February figure shows 23% price increase in 1 year

Phoenix recorded a 23 percent increase in housing prices in the last year, February figures from a national index showed Tuesday.

The Standard & Poor's/Case-Shiller 20-city home price index put Phoenix on top of the list for housing price increases. It showed a 9.3 percent increase for all 20 cities for the 12 months ending in February. That's up from an 8.1 percent gain in January.

Annual prices rose in all 20 cities for the second month in a row, the first time that has happened since early 2005.

Tucson is not in the 20-city index. Fiserv Case-Shiller showed Tucson housing prices were up more than 7 percent in 2012 and were expected to lag in the first half of this year before beginning another increase in the third quarter.

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