Tucson Association of REALTORS® recently released the April 2008 sales figures, and the news shows conditions improving slowly, slightly, but improving nonetheless:
- Home Sales Units increased 8.1% from March to April (900 to 973)
- Pending Contracts increased 9.71% (1410 to 1547)
- Active Listings decreased 2.37% (9022 to 8808)
- New Listings decreased .12% (2444 to 2441)
- Median Sales Price decreased by 2.5% from $200,000 to $195,000
While some people may bring the argument that a decrease in Median Sales Price could be a bad thing, I see it as a positive factor with the summer buying season coming on--more affordable housing and good interest rates can mean that people who previously thought that home ownership was out of their reach could become interested in making that dream come true.
With increased activity and inventory becoming more manageable, the market stability that has been forecast for our metro area looks more and more like a reality.
Here's to a good summer!
Kent Simpson
Specializing in Buyer Representation in the Tucson, Arizona real estate market.
"Never forget - Real Estate Is About People"
Good To See Some INCREASED ACTIVITY! Woo-Hoo! Right?! Hope the market contines to go up!
Tom Davis
DE Realtor
Kent that is good news! I think that a lot of areas are beginning to see some improvement!
A lot of people are finally understanding that the MEDIA has an agenda. When you stop blindly following the media, people are realizing that there ARE still mortgages available at great rates (I had a client locked in the other day at 5.7%!). People understand that people still need to move...that means BUYING and SELLING and that creates market activity which means the market ISN'T what is being portrayed.
Tom, Tony & Darcy, Ron's Team - Thank you for your comments...I've been away from AR for a few days.
I've been looking at similar numbers ... people better take advantage of the last gasp of this buyers market before the climb begins.