Flagstaff housing sales ended the year on a very positive note. December sales were up 58% over December 08 and for the 4^th quarter were up 69% versus the same period.

For calendar year 2009, total housing sales came in at 728 versus 670 in 2008 a 9% increase.

The annual sales high was in 2005 when 1207 houses changed hands.

   The sales increase can be attributed to 3 factors. First and foremost is the first-time homebuyer tax credit of $8,000 which has now been extended into 2010. Second is the fact that mortgage rates hit their lowest levels ever in 09 and still remain very close to those levels. And 3^rd is that the median sales price for a house in Flagstaff came down 10% in 2009 to $309,950. This median sales price is down 18% from the top of the market in calendar year 2006.

   Distressed sales, which include foreclosures, short sales and corporate relocations, are continuing to play a big part in the overall mix. For the later part of 09 they were averaging between 25 to 30% of total sales and in December accounted for over 38% of total sales.

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