Phoenix Arizona East Valley real estate plummeted 30.7 percent from August 2007 to the same month this year, while the sale of homes in Las Vegas plunged 30.6 percent and Miami sale prices sank 28.1 percent according to Standard & Poor’s Case Shiller Home Price index released Tuesday.

Prior to this soft market, the Metropolitan Phoenix area from 1995 to 2005 was one of the fastest growing selling prices in the US.