More great news about the national real estate market was reported on Monday. 

September had an increase of 6.1% in Pending Home Sales.  The rise from 110.1 million to 103.8 million marked the largest annual increase on record and the longest streak of gains since the measurement began in 2001.

The gains are attributed to homebuyers rushing to take advantage of the $8,000 tax credit which is set to expire at the end of this month.  Forbes reported yesterday that the Senate voted 85-2 on Monday to move to a final vote on an extension through April 2010. This is a promising step closer to seeing the bill reach the President. There is also discussion of a tax credit of $6,500 for homebuyers who have lived in their home the previous 5 years.

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Here are the Arizona market results for October 2009 (Information was provided by our friends at CromfordReport.com):

Sales per Month @ 8,032 were up 191 from September 2009 @ 7,841

Days on Market @ 91 was down 2 days from September 2009 @ 93

Days on Inventory @ 163 remained steady from September 2009 @ 162

Active Listings @ 38,733 were up 1,315 from September 2009 @ 37,418

Median Sales Price @ 128K remained somewhat steady from September 2009 @ 130K

Lender Owned Percentage of Monthly Sales @ 46% was down from September 2009 @ 50.6%