Great News! The latest Tucson real estate market sales report has been released. See my home page for the exact numbers http://www.valfrerealty.com

To summarize, the number of listings was drastically reduced in large part due to the increase in pending home sales. In fact, in May there was about 1100 homes under contract. Last month there was 2100! Another good sign was a decrease in the amount of new homes entering the market.

The best news, though, is that Tucson reached a new all-time high of median and average home prices. Higher prices than that seen in 2005, Tucson's previous high. I am not going to boast that Tucson's problems are over, but this is a great sign that the market is stabilizing and that we will not see the deficits that California and Florida are seeing. Those two states have their own economic reasons for their demise.

Next month's statistics will tell if Tucson is truly entering a stable market.