My email this Monday morning brought two reports, one Flagstaff home sales specific and the other national/regional.
I received a monthly Flagstaff home sales report from another Flagstaff real estate agent, with this comment in his cover note: “The market in Flagstaff continues to cool off from the hot rebound last year.” His newsletter reports from the Northern Arizona MLS statistics, as I reported last week in my Monthly Flagstaff Home Sales Report.
Credit Suisse gave me their monthly survey of real estate agent views on the July market (since I participate). Nationally, Credit Suisse summarized, “Increasing Price Sensitivity as Buyers Lack Confidence; Economic uncertainty and ever-higher prices deplete buyer urgency as traffic edges lower; Plenty left to be desired from a traffic standpoint;Tide is still rising for now, but less of a lift for some boats.” Bad news for Arizona: “Of the 40 markets we survey, 33 saw higher prices sequentially in July (34 in June), 2 saw flat prices (3 in June), and 5 saw lower prices (3 in June). Phoenix, Virginia Beach, and Washington DC saw lower prices in both June and July, with Phoenix on that list for the past eight months.”
When you’re ready to buy or sell a Flagstaff home, start with our Flagstaff real estate website.