SURPRISE, Ariz. -- Home sales are on the rise in the Valley as buyers snap up lower priced homes using lower rate mortgages.

Mortgage interest rates have dipped below 5 percent, and housing prices are at an all-time low in Maricopa County.

The median home resale price reached a new low of $127,000, and real estate experts say that, along with low interest rates, is fueling sales.

In March 2009, 7,600 homes were sold in the Valley, whereas in March of 2008, only 4,300 found buyers.

Mortgage insiders expect interest rates to keep slipping, further fueling the Valley's housing market.