The Tucson Residential real estate is drying up. This evening July 9, 2012 at approx. 5:30 pm I pulled the following statistics from the Tucson MLS system.
Active Bank Owned Homes: 442
Active Short Sales: 307
Under 4000 active listings in the 14 reporting areas for Tucson. During June we had 1163 closed transactions. The quick math says we have less than 4 months of available inventory in Tucson.
Summer is usually a slow time here in Tucson for real estate. Why? Because it is very hot outside and vacant homes without air conditioning are even hotter with no air moving. Go see a dozen of those in a day and you will feel like you have been walking in the desert all day.
But this summer, it isn’t a slow time. The real estate market in Tucson and other parts of the country are as hot as the outside summer temps.
What’s the real estate market like in your part of the country?