The Tucson Association of Realtors has released the Residential Sales Statistics for August.

Let's hope the 10.5% decline in average sale price from July to August is a blip that will be corrected this month. Now at $155,000, the average sale price hasn't been this low since 2001.

FHA Loan Limits Will Decrease

FHA’s lending limit for Pima County is currently $316,250. Effective October 1, 2011, the new limit will be $271,050.

This is another way our government is making housing unaffordable. People getting a mortgage for more than $271,500 will need to make at least a 5% down payment, instead of the 3.5% down payment they can make with an FHA loan.