Existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of Realtors®.

Real Estate transactions which included single family homes, town homes and condos, rose 10%

The NAR chief economist, said the housing market is in the early stages of recovery. “A housing recovery is taking place but will be choppy at times depending on the duration and impact of a foreclosure moratorium. But the overall direction should be a gradual rising trend in home sales with buyers responding to historically low mortgage interest rates and very favorable affordability conditions,” he said.

The national median existing-home price² for all housing types was $171,700 in September, which is 2.4 percent below a year ago. Distressed homes³ accounted for 35 percent of sales in September compared with 34 percent in August; they were 29 percent in September 2009.

Single-family home sales increased 10.0 percent to a seasonally adjusted annual rate of 3.97 million in September from a pace of 3.61 million in August, but are 19.5 percent below the 4.93 million level in September 2009. The median existing single-family home price was $172,600 in September, down 1.9 percent from a year ago.

I believe we are now scraping along on the bottom.  I’m seeing more people looking for lots and trying to get those view lots for 130K instead of the 580K that was paid in 2005.  If you want get a great deal. Now is the time to act and buy the Sedona Home or Sedona Lot.  Click here for my latest choices of Sedona AZ real estate bargains.

Troy