Tucson's Current Market Trend

Every month I provide insight on the direction of Tucson's real estate market. Many national news reports talk about a devastating bust in the housing market, yet they provide little factual data behind their claims. I believe in providing real market trend data to back up my housing claims.

The latest statistics for Tucson real estate shows a steadying of home prices. July 2005 has been determined to be the peak of the Tucson housing market, the past two years have allowed for a correction in prices. Sellers are now pricing their homes more reasonably. Buyers are coming back into the market. Prices and inventory are holding steady. The National Association of Realtors is expecting the market to pick up in the second half of next year.

November 2007 Stats

Homes for sale: 9,234 - Down from 9,313

Avg home sale price: $269,968 - Up from $262,251

Median home sale price: $213,000 - Up from $210,000

Average Days On The Market (DOM): 97 - Down from 99

Months of Inventory: 11.3 - Down from 11.8

Come back for December 2007 statistics mid-month.

http://www.valfrerealty.com