Nice optimism. Realtors are quickly putting up sold signs to encourage folks that things are selling here. 101 closed sales in a month means that if no more houses come on the market, in only 18 months or so, the existing inventory will be sold.
Many sellers here haven't yet gotten the message to drop their prices if they really want to sell. We are looking to buy another house here, but aren't even bothering to look at occupied houses as there are something like 400 foreclosures on the market and I don't know how many Bank-owned properties.
We are currently trying to buy a short sale now and everyone is dragging their feet (seller, bank, and even escrow company) so we are doubtful the sale will even occur...but that didn't stop the selling agent from putting up a sold sign the moment we made an offer (well under asking price).
Once the glut of "weekend homes" owned by folks from the next-door state (who currently can't afford them), then Havasu can resume its climb. This is a great area to live, but I don't think we are at the bottom yet... We're willing to buy now because we think the bottom is close...but we certainly put in a much lower offer than the asking price. If it doesn't work, we'll find another...there are plenty here!