April 24, 2009

Existing Home Sales Down 3% Nationally

The National Association of Realtors® releases its statistical report on resale homes for March 2009

Nationally, first-time home buyers accounted for more than half the home sales in March, according to figures released by the National Association of Realtors.^® In Flagstaff, first-time homebuyers are certainly out in force and are a significant part of my current set of active buyers.

Who says tax credits don’t work? The first-time home-buyer tax credit seems to be giving some life to the housing market -- in Flagstaff and elsewhere.

Overall, resale home sales -- including single-family, townhomes, condominiums and co-ops -- declined 3.0 percent to a seasonally adjusted annual rate of 4.57 million units in March from a downwardly revised level of 4.71 million in February, and were 7.1 percent lower than the 4.92 million-unit pace in March 2008. Distressed properties (foreclosures, relocation-company-owned properties, and short sales) are estimated to represent half of the sales made in March.

Read the full press release from the National Association of Realtors^®

Read another slant on the statistics from MarketWatch.com

Read the Flagstaff home sales statistics for March:


	Existing-home sales fall 3% in March
	MarketWatch.com report and commentary
	http://www.marketwatch.com/news/story/US-existing-home-sales-fall/story.aspx?guid=%7B7804993C%2DE499%2D46ED%2DB650%2D89F6E4840D69%7D

	NAR Press Release
	Realtor® economist sees signs of market stabilization even while higher priced home sales languish
	http://www.realtor.org/press_room/news_releases/2009/04/march_ehs

	Flagstaff Real Estate Forecast
	Real estate forecasts are tied to the economy -- here's my outlook for the Flagstaff real estate market
	http://blog.bestflagstaffhomes.com/public/blog/178435

Topic Tags: distressed properties, existing home sales, Flagstaff condos, Flagstaff homes, Flagstaff real estate, Flagstaff real estate market, foreclosures, home sales, housing market, NAR

by Ann Heitland
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by Ann Heitland

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