Market News
MLS Statistics For January 2008
The MLS statistical report for Tucson shows that we have been spared the disasterous problems reported in other parts of the country. Although there has been an obvious slow-down compared to 2005, the market has turned to a more typical or normal market.
Statistics show that during January 2008, the average sale price decreased only 2.23% from a year ago. The number of active listings decreased 5.89% from last year, a good sign for Sellers. The number of new listings increased 7%.
The most significant sign that the market is holding its own was a 25.03% INCREASE in the number of pending SALES in January compared to a year ago!
A report from SAHBA (Southern Arizona Home Builders Association) showed a big decrease in the number of new home starts, a good sign for Sellers of resale homes.The inventory of newly constructed homes has declined considerably over the past few months.
