Realty Executives of Northern Arizona
February was a good month in Flagstaff, we sold 45.5% more homes than the prior year, and 8.7% more homes came to the market.
Our inventory is still extremely short, hovering around 3.1 month's supply on-hand, where the experts if the Real Estate field feel 6 month's is a good number to reach. We still are in an extreme housing shortage.
For the first two months of the year, we have sold 58.8% more homes, -1.8% fewer homes have come to the market.
Our median prices are hovering at a 7% increase over the prior year.
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The housing market is staying extremely strong, driven by two main things, lack of available homes on the market and the incredible mortgage rates that our out there.
Depending on your current mortgage rate, this may be prime time to refinance. Here in Flagstaff, if you would like some suggestions on Great Local lenders, give me a shout, that I can help with.
About the Author:
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Where the Experts are - Serving Flagstaff and Northern Arizona since 1977
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