According to the Tucson Association of Realtors the median home determine in October was $210,000. This was down 1% year-over-year and down 8.3% off of the record determine of $229,000 set in June 2007. While prices undergo been up and down in recent months prices are approve to levels first reached in the spring of 2005:
For the fifth consecutive month new contracts opening escrow in ‘07 exceeded the same month in 2006. The October 2007 shows 993 new pending contracts and the October 2006 shows 782. This indicates there are more buyers in the market finding their conceive of home and making offers and sellers are more receptive to these offers.
This consistent monthly increase in new contracts pending is reflected in the change magnitude in the October 2007 total closed units of 790 units an increase of 107 units over Septembers’ be.
Additional good news indicates the Active Listing inventory has declined for the fifth consecutive month with October ‘07 showing an list of 9,313 a change state even when compared to October ‘06. The 2,399 new listings coming into the market are less than the September number as come up as the same month last year.
I undergo a different view of the increase in pendings. Many homes are staying pending longer as buyers are having difficulty selling their previous residence and/or obtaining new financing. With homes staying pending longer this causes the number of pendings to rise when sales are in fact down. []
I have no idea what Lowe is talking about when she refers to actives decreasing. Listings undergo increased every month for the past four months. However it is true that all of these months are drink slightly year-over-year. [
] There were 9,313 this year as opposed to last year’s 9,336.
About the only good news is the increase of sales from September to October although sales are comfort drink 28% year-over-year. A couple of possible factors for the increase were that the rush to change state in August before give programs were discontinued may undergo adversely impacted September’s numbers as come up as September having fewer business days. It is unlikely that the month-to-month improvement will be an ongoing trend.
This entry is filed under. You can go any responses to this entry through the feed. You can drop to the end and. Pinging is currently not allowed.
Forex Groups - Tips on Trading
Related article:
http://housingdoom.com/2007/11/14/tucsons-median-price-down-83-off-of-peak/
comments | Add comment | Report as Spam
|