"All real estate is local, despite the headlines," says Lawrence Yun, the senior economist for the National Association of Realtors. Nationwide, the median existing-home price fell 1.3%, to $212,800 in February from $215,700 in February 2006, according to preliminary NAR statistics. Quoted in the Wall Street Journal today.

Watch our statistics locally rather than listening to fairly meaningless nationwide percentages! Our newsletter reporting on April results will go to clients later this week. A partial report is in the last blog entry.

 Another thought, although a bit more frivolous, is that all real estate is not just local, it's personal. Here's a comment I recently read:

"I read many comments about how high the real estate is in Flagstaff and coming from Southern California have to smile. It's all relative to where you're coming from I suppose but we sold our home in California that we owned for 15 years for $800,000 so coming here and buying a nice ranch style home with a three stall barn on 3.5 acres for a little more than half that price seemed like a real bargain to us. We're both retired so the relatively mild winters (compared to New Hampshire where we lived for 11 years) do not present a problem for us. Just throw another log on the fire, grab another cup of coffee and watch the snow fly out the dining room window with a view of the Peaks." Quoted on Sperling's Best Places to Live.