A Sprawling Phoenix Rising

Phoenix's housing crash has ended, the LAT reports. The background:

Phoenix experienced one of the most dramatic real estate crashes in the nation. Median home prices for resold homes peaked at $268,000 in June 2006. Now the median price is $120,000. It is the biggest decline in the top 20 metropolitan areas tracked by the Standard & Poor's/Case-Shiller home price index.

Now, apparently, it's suddenly tough to find something if you're looking to buy.

So exurbs are back! Well, maybe not the ones in Texas or Florida yet. But with Phoenix (or DC), they're good to go. For now.