A recent economic forecast from the National Association of Realtors (NAR) reports existing home sales are expected to grow by 1.2% this year and 5.1% in 2012. And although the median existing home price is predicted to dip about 4% this year, it should recover and go UP 2.6% in 2012. Sales should also jump to 5.22 million units from this year's projected 4.97 million.

The total number of units sold continues to rise causing the over all inventory to shrink. Quartly reports show 261 units selling in the first quarter, 333 units the second and then 438 total units selling in the third quarter. Market continues to be busy even in the winter months when traditional the homes sales decline. Predictions are that home prices in Flagstaff will stay flat until the second quarter of 2012 when we will see a 2.6% rise in home prices for the rest of the year. Currently money market savings accounts are only paying arround 0.50%. Now is a great time to buy before home prices go up. Don't be the person who says, I wish I had purchased a home when the prices had bottomed out.