Valley's home market No. 1 for price increases

"The good news: Home prices soared 55.2 percent across metropolitan Phoenix in the past year, making it the nation's hottest housing market. The reality: The Valley's biggest home price run-ups are behind it. The area's housing market likely peaked during the September 2004 to September 2005 period, because in October, home prices fell slightly. It was the first dip for Valley homeowners in almost two years."