Nationally, home sales improved in May compared to April if what matters to you is the number of homes selling. If falling home prices is bad news for you, don’t start the celebration. Furthermore, existing home sales, nationally, for May 2008 were down nearly 16% from May 2007, according to the National Association of Realtors.® This report is based upon different data from Tuesday’s Wall Street and government indices of housing, which were for the month of April. The National Association of Realtors® data covers resale homes without the selective criteria used in those other indices. The NAR data is based on a much larger sample than either of the other indices. Additionally, NAR reports seasonally adjusted annual rates to factor out seasonal variations in resale activity. All real estate is local. So, although the NAR and others report total national real estate sales data, particular locations are often in better or worse shape than the national numbers. Although conditions remain mixed around the country, a number of areas are experiencing much higher sales activity than May 2007, including Sacramento, the San Fernando Valley and Monterey County in California; Sarasota, Fla.; and Battle Creek, Michigan. For the latest Flagstaff real estate market news, check out these recent posts: Flagstaff Real Estate Update – June 3, 2008 Mid-Month Flagstaff Real Estate Market Report – June 16, 2008
I wrote this post to help my clients based on the knowledge and resources available to me as a Realtor® and Certified Residential Specialist. Let me put my expertise to work for you, your family, and your friends. Visit my website to learn how we sell Flagstaff real estate!
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