The National Association of Realtor’s has released Real Estate statistics for February 2009 and the news is great!

Sales in February were up countering the downward sales trend in January of this year. Home sales nationally rose 5.1% to a seasonally adjusted annual rate of 4.72 million units in February from a pace of 4.49 million units in January.

Lawrence Yun, NAR chief economist, said first-time buyers accounted for half of all home sales last month, with activity concentrated in lower price ranges. “Because entry level buyers are shopping for bargains, distressed sales accounted for 40 to 45 percent of transactions in February,” he said. “Our analysis shows that distressed homes typically are selling for 20 percent less than the normal market price.”

The trend was fueled by a surge of sales in the western half of the country as buyers have started snapping up property. Existing-home sales in the West increased 2.6 percent to an annual rate of 1.20 million in February and remain 30.4 percent higher than a year ago. The median price in the West was $204,600.

This is very exciting news for Sedona and the rest of Central Arizona and we will bring you more as it develops!

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016.

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