A pair of reports from Arizona. "For the first time in a long time, it's a buyer's market in Tucson. Realtors say they haven't seen this many homes on the market in years, and that means prime real estate for first time buyers in the area."

"Those in the market have the pick of the litter these days in Tucson. 'Tucson has too much inventory, but that's great for the buyer, so I would consider this a buyer's market certainly,' says Realtor Andrew Moya."

"'For sale' signs are hanging outside about 9,000 homes in Tucson right now alone. Moya says, 'With 9,000 homes, the seller has to realize, and is realizing, the first-time buyer is an integral part of this market.'"

"'The incentives are really big right now with a lot of the home builders,' says Moya."

The Arizona Daily Sun. "Flagstaff's overheated housing market has finally cooled off. Home sales inside the city fell from 152 units in July 2005 to just 84 last month, a drop of 44 percent. For the first seven months of 2006 vs. 2005, total sales are off 24 percent."

"Houses are also taking longer to sell. That's probably because there are more houses to choose from: 794 were listed for sale inside the city last month vs. 254 total listings in July last year."

"Realtor Ann Heitland said the increase in the number of single-family homes on the market is a sure sign of the transition from a seller's market to a buyer's market. Heitland said the city has almost 10 months' worth of homes for sale locally, three times last year's number at this time."

"But some Realtors refuse to call it a buyer's market, pointing to other economic indicators that have not been triggered. Steve Brighton isn't ready to call Flagstaff a buyer's market. Even though there has been decline in the number of homes sold, the price continues to climb."

"Michael Kerski, the city's community investment director said sellers are still getting nearly what they ask for, another indicator that suggests Flagstaff has not become a haven for home buyers, yet. Using NAAR statistics, the average price of all homes sold this year in Flagstaff is between 97 percent and 98 percent of the average list price."