Tuesday, January 15, 2008

December Residential Sales Statistics

The Tucson Association of Realtors has released the Residential Sales Statistics for December 2007. Fortunately for owners and buyers of Tucson real estate, they show the same ol' same ol'. Not much change in average and median sale prices. Active listings are at their lowest level since December 2006, which means the balancing act between supply (listings) and demand (sales) is becoming more stable. Only 682 properties sold in December, but I'm not too worried about that. In my own business, I am starting to get more calls from buyers, who are realizing the sky most likely is not going to fall.

On January 9, 2008, the chief economist of the the National Association of Realtors spoke to the Tucson Association of Realtors. He had some very encouraging news about Tucson's unique qualities that will enable us the weather the economic storms better than other parts of the country will. Tucson Association of Realtors president Judy Lowe summarizes his remarks on the first page of the Residential Sales Statistics for December 2007.

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