The Arizona numbers are out for October. "The local single-family resale market had a slight upturn in October 2006, as recorded sales rose to 4,985 transactions from 4,875 sales in September, but still well below the 8,420 recorded sales of last year. This is the lowest monthly level for October since 4,860 sales were reported in 2001."

"So far in 2006, there have been a total of 57,375 sales, while it stood at 97,165 sales in 2005 year to date. Although the median home price improved slightly from $256,900 in September to $257,000, it was again below last year’s $259,900. The record to date was June 2006 at $267,000."

"'Limited home appreciation and household income continues to raise concern about the ability of some homeowners to maintain their homes,' said Jay Butler, director of the Arizona Real Estate Center at Arizona State University’s Polytechnic campus. 'This may be especially evident for those that have used some of the more creative financing instruments, such as option payment plans and initially low interest rate adjustable mortgages.'"

The Arizona Republic. "The Valley's single-family home sales are well off from last year's frenzy, down nearly 41 percent from October of last year, according to ASU."

"Last year's resale market was driven by a buying spree fueled by investors that pushed prices and sales to records. ASUs' Jay Butler said the market is struggling to shake a hangover from last year, trying to find its footing at a more reasonable pace."

The East Valley Tribune. "In September, the year-to-date median home price dropped for the first time in more than 10 years."

"Last month, 15 percent of all recorded sales were for homes priced from $125,000 to $199,999, while 46 percent were from $200,000 to $299,999 and 35 percent were more than $300,000. In October 2005, 21 percent of all recorded sales were priced from $125,000 to $199,999."

"'The overall trend is we seem to be bouncing along the bottom here. We’re probably a little bit below our historical norms for these months, but the market is within its range of historical normalcy,' said Butler."

The Arizona Daily Star. "Tucson's median home price in October reached $211,500, a 5.5 percent decrease from $224,000 last year. The number of new homes listed for sale reached 2,886, a 16.7 percent increase from 2,474 homes listed last October."

"Last month, 9,336 homes were listed for sale, an increase of 75 percent over 5,330 homes listed in October 2005. The market 'seems to be stabilizing,' said Paul Olson, MLS president."

"Scottsdale's median home price fell in October to $548,500, down 2 percent from a year ago and 5 percent from September. Sales of existing homes were off 27 percent from a year earlier when 575 homes were sold."

"The median price of an existing home in south Scottsdale was $300,000 in October, down $20,000 from September and $10,000 from a year earlier."

"North Scottsdale's median price in October was $635,000, a decline of $43,000 from the previous month and off $20,000 from a year earlier. Sales of Scottsdale condominiums and townhouses last month were off 41 percent from a year earlier."