As of December 2009 active inventory was 164, a 18% increase from December 2008. There were 12 closings in December 2009, a significant increase of 300% above December 2008. Months of Inventory was 13.7, down from 46.3 in December 2008. Median price of sold homes was $335,000 for the month of December 2009, down 11% from December 2008. The SaddleBrooke area is experiencing a significant increase in buyer activity, with new properties under contract up 200% from December 2008.

Get the complete Saddlebrooke Housing Report for January 2010

As of December 2009 active inventory was 217, a 46% decrease from December 2008. There were 42 closings in December 2009, 62% above December 2008. Months of Inventory was 5.2, down from 15.4 in December 2008. Median price of sold homes was $212,325 for the month of December 2009, down 6% from December 2008. Vail is experiencing a significant increase in buyer activity, with new properties under contract up 252% from December 2008.

Get the complete Vail Housing Report for January 2010

As of December 2009 active inventory was 963, a 3% increase from December 2008. There were 81 closings in December 2009, 3% above December 2008. Months of Inventory was 11.9, up from 11.8 in December 2008. Median price of sold homes was $144,950 for the month of December 2009, down 13% from December 2008.

Get the complete Sierra Vista Hosuing Report for January 2010

As of December 2009 active inventory was 906, a 5% decrease from December 2008. There were 57 closings in December 2009, a significant increase of 104% above December 2008. Months of Inventory was 15.9, down from 34.1 in December 2008. Median price of sold homes was $179,000 for the month of December 2009, down 5% from December 2008.

Get the complete Green Valley Housing Report for January 2010

As of December 2009 active inventory was 40,183, a 27% decrease from December 2008. There were 7733 closings in December 2009, a significant increase of 37% from December 2008. Months of Inventory was 5.2, down from 9.8 in December 2008.

Median price of sold homes was $126,500 for the month of December 2009, down 12% from December 2008.

The Phoenix Metro area is experiencing an increase in buyer activity, with new properties under contract up 67% from December 2008.

Get the complete Phoenix Housing Report for January 2010

As of December 2009 active inventory was 6,327, an 18% decrease from December 2008. There were 850 closings in December 2009, an increase of 15% from December 2008. Months of Inventory was 7.4, down from 10.5 in December 2008.

Median price of sold homes was $155,000 for the month of December 2009, down 8% from December 2008.

Tucson is experiencing a significant increase in buyer activity, with new properties under contract up 83% from December 2008.

Get the complete January 2010 Housing Report for Tucson

With so many moving pieces in the housing market these days, it may get confusing to know what is more important for buyers - cost or price?

Are cost and price the same? Not necessarily. For an example, think in terms of buying a car. Most buyers can’t recall the actual "price" of the car they bought, what is more important is their cost - or the actual monthly payment.

The same applies to real estate. For a buyer, it is not just the "price" of the home that can impact cost, the interest rate on the mortgage is also an important factor. So while the "price" of the home may fall, if mortgage interest rates increase then the actual "cost" of the home may vary, depending on the magnitude of the price decline and rate increase.

Lots to consider here. If you are in the market to purchase a home - make sure you understand the difference cost and price and how that impacts your wallet. You may find that if you wait too long for prices to drop, your cost may actually increase with higher rates - and no one wants to increase their cost.

To keep up on mortgage rates and load programs visit www.longmortgage.com and to find a Long Realty agent who can help you look at your actual costs, visit www.longrealty.com

The government recently extended and expanded the homebuyer tax credit - which now has provisions for both first time home buyers and current homeowners. So you may have questions like "what does it mean?" or "how does it work?" or "does it apply to me" or even "should I buy now?"

Well, to help explain in simple terms what the homebuyer tax credit and how it applies to you, Long Realty recently produced a short video featuring nationally recognized real estate speaker and trainer, David Knox.

Watch the tax credit video now

Here are some key highlights of the tax credit:

 The $8,000 first-time homebuyer tax credit is extended

• Now, qualified first-time home buyers would receive their $8,000 tax credit if they sign a purchase contract by April 30, 2010 and close by June 30, 2010
• The home purchased must be their primary residence
• Buyer cannot have owned a home during the past three years
• Tax credit is up to 10 percent of the home’s value (not to exceed $8,000)
• Annual income caps to qualify for the tax credit will increase ($125,000 for single filers / $225,000 for joint filers). Partial tax credit can be granted for incomes up to $145,000 for single filers / $245,000 for joint filers

• Eligible home buyers must have lived in their current home for five consecutive years of the past eight years
• The new home’s cost need not exceed the current home
• Eligible for homes with purchase agreements written by April 30, 2010 and that close between Nov. 6, 2009 and June 30, 2010
• Annual income caps to qualify for the tax credit will increase ($125,000 for single filers / $225,000 for joint filers). Partial tax credit can be granted for incomes up to $145,000 for single filers / $245,000 for joint filers

Get Answers to Frequently Asked Questions

And if you are ready to start shopping for a home, visit www.LongRealty.com

As of November 2009 active inventory was 6,414, a 20% decrease from November 2008. There were 981 closings in November 2009, a significant increase of 51% from November 2008. Months of Inventory was 6.5, down from 12.4 in November 2008. Median price of sold homes was $164,000 for the month of November 2009, down 8% from November 2008. Tucson is experiencing a significant increase in buyer activity, with new properties under contract up 83% from November 2008.

As of November 2009 active inventory was 39,975, a 30% decrease from November 2008. There were 7,613 closings in November 2009, a significant increase of 75% from November 2008. Months of Inventory was 5.3, down from 13.1 in November 2008. Median price of sold homes was $130,000 for the month of November 2009, down 14% from November 2008. Phoenix is experiencing an increase in buyer activity, with new properties under contract up 91% from November 2008.