February Residential Sales Statistics

The February Residential Sales Statistics have been published. The Arizona Daily Star chose to further suppress real estate sales by exclaiming that the median sale price has dropped below $200,000. It was $199,900 in February 2008, or 9% lower than in February 2007.

Of course they didn't mention that the average sale price in February 2008 was $262,155, which is a 1% increase from a year earlier.

With friends like the Star, who needs enemies?

Most wizards who are gazing into economic crystal balls say interest rates are heading up. Way up. So get off the fence and buy while the buying is good.