If you've lived in the Phoenix Area for more than 3 years, it will come as no surprise that the appreciation rate has rising well above the national average in 2005 and 2006. Traditionally, Arizona has maintained a steady rise and fall with the national average (with the exception of two jumps between 1978 to 1979 and 1993 to 1996. The chart above helps to illustrate that we are "JUST RETURNING TO NORMAL" in the overall market.