In the late 1980s home prices in Phoenix declined for a grueling 17 straight months before bottoming out in the early 1990s. That downturn pummeled the savings and loan industry, and it set the record for length. In August, however, this dubious record was broken when home prices in Phoenix declined for the 18th straight month, according to the latest data from the Arizona Sate University – Repeat Sales Index (ASU-RSI).
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