Stop the press! Last month buyers took advantage of the new measures put in place to stimulate the housing market (the nationalization of Freddie Mac and Fannie Mae and the $700 billion Economic Stimulus Rescue Package) and bought huge swathes of real estate!

The rise is a seasonally adjusted 5.5% which represents around 5.18 million units! Higher than Augusts 4.91 million and even September 2007’s 5.11 million!

This is excellent news and could be signs of a market starting to recover and with potential expected rises next year in prices between 2- 3 %. The increase in sales started in the West and is spreading across the nation.  Despite some doubts about Credit being as freely available as previous it does not seem to be stopping buyers who are wowed by the selection of homes on the market. Mortgage rates are still historically low and buyers are scrambling to get applications into bank before going out and looking at property.

Total national inventory fell by 1.67% and is now only a 9.9 month supply of around 4.27 million existing units available. Contrary to popular belief most purchasers are not investors looking to buy a second home or rental property, they are buyers shopping for a primary residence as home affodability has risen due to the fall in home prices.

With now being an excellent time to buy, if you are thinking about Sedona Arizona Real Estate then please contact Claudia Ault for professional Real Estate advice in Sedona and the surrounding Verde Valley. You can call her today on: 928-301-3016 or through her online contact form here.

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