The economy is all we hear about on the news! However this latest data from Sedona and the Verde Valley on Sales Tax revenue may come as a surprise.
Numbers are up – what does this mean? Well, it means that people are spending more in the area. Locals, visitors, the lot! Showing that the economy is improving.
Except for Camp Verde, all communities in the Verde Valley and Sedona posted gains in sales tax revenue for July over the same month last year.
Sedona in July moved into positive numbers in both retail and total sales tax categories. Retail tax revenue was up from $244,689 last July to $258,063 this year. The total sales tax collections for all categories were up to $1,140,395 for July from $1,073,215 last year.
This is very important! Even in home sales – despite a fall in the level of actual sales, there is some positive news.
Nationally the news on homesales is not as good as it has been in recent months according to the National Association of Realtors, Lawrence Yun, NAR’s Chief Economist has said that slightly lower numbers may continue for a few more months after the surge of buyers but that they should level out due to the high level of affordability.
Despite that annual sales are expected to reach 5 million in 2010 because of healthy activity in the first half of the year. This means 2010 is a great year as annual sales averaged 4.9 million in the past 20 years, and 4.4 million over the past 30 years! Mortgage rates are still at historic lows according to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.42 percent last week!
On prices, the national median existing-home price for all housing types was up 0.7% from a year ago, Single-family median existing-home prices were higher in 11 out of 19 metropolitan statistical areas reported in July in comparison with July 2009. Also, raw unsold inventory is 12.9% below July 2008 numbers. The level of investor purchases also increased with investors accounting for 19% of sales in July, up from 13% in June. So despite actual sales being lower there is alot of positive news in NAR’s findings.
It confirms what we have been saying, that now is the time to invest in Sedona Arizona Real Estate!
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Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES! If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact AULT&ASSOCIATES in downtown Sedona.
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 or Larry Ault at 928-301-0852









