Ability Realty
Barry Fotheringham, Broker
7360 E. 22nd Street,
Tucson, AZ 85710
Last month I stated that I was seeing a trend that I am not feeling good about. It is not Bad, Bad, but it makes me think we are slowing down in Tucson again. All three things I told you about are continuing in what I think is the wrong direction. I think the Short Sales and Foreclosures are slowing down some and this may help our inventory from getting too high. The Average And Median Sales price are still moving up and this will eventually help those who want to sell and are willing to break even or come out of pocket to get out of their current home.
| Jul. 2012 | Aug. 2012 | Sep. 2012 | Oct. 2012 | Nov. 2012 | Dec. 2012 |
|
|---|---|---|---|---|---|---|
Average Sales Price | $181,878 | $180,193 | $182,041 | $175,850 | $182,539 | $183,011 |
Median Sales Price | $140,000 | $145,000 | $144,950 | $143,000 | $144,627 | $147,500 |
Total Units Sold* | 1137 | 1179 | 938 | 1074 | 994 | 942 |
Active Listings | 3477 | 3564 | 3845 | 4195 | 4430 | 4449 |
Days On Market | 67 | 65 | 45 | 49 | 51 | 55 |
Listings Under Contract** | 2595 | 2525 | 2409 | 2364 | 2237 | 2022 |
Sales Over $500,000 | 43 | 38 | 28 | 26 | 29 | 33 |
| The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables. * Closed during the month. ** For the current month (not the total listing under contract) |
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I think our whole Housing Industry is subject to what still has to be done by Congress and the President. I see another Cliff coming. If you personally spend too much, do you continue down the same same path adding more debt, or do you start cutting back on things to get your spending under control and some of your debt paid off. Now lets go larger and see what is happening with our country by those we elected to do right by us. It is the same thing, and we have to reduce spending and help the job creators create jobs. If you think they need to pay more taxes forget the jobs coming quickly. They did increase the taxes on those making $400,000 single and $450,000 married which brings us back to levels of a few years ago. My problem is things like Pelosi statements that we are not through with raising taxes, and her famous statement, “We have to pass the (health care) bill so you can find out what is in it”. It seems that many in the House and the Senate want to tax, tax and not cut SPENDING. I don’t think they understand what a budget is for.
Stay tuned as we proceed down our path in Tucson and I hope change what I see in the chart. It can happen but my question is when? It will happen but what year? I really do not want 3 more years like the past 3 years. I will get more of my feelings out by the end of the month.
Interest rates are still very low but again for how long. You can see prices rising, and it really is time to look for your new home. Call me at 240-7130 if you want help.
Jan 22, 2013 No comments yet Share