Tucson Absorption Rates December 2008
January 19, 2009
Post Tags: Tucson Real Estate , Tucson Real Estate Market , Tucson-Absorption-Rates-December-2008
There was a significant drop in the overall absorption rate for Tucson from November at 12.59 to December 9.84 Some of the areas of town showed marked improvement. A couple jumped up quite at bit. For instance the XNW saw a huge jump in absorption rate, but a quick look at the details shows 10 sold in Nov. and 6 sold in Dec. Statistically a large difference. But in actual numbers not so big a difference.
Check out the individual areas of town, keep in mind 6 months is considered a “normal” inventory.
|
Area
|
Dec Listed |
Dec
Sold |
Dec
AR |
Nov Listed |
Nov
Sold |
Nov
AR |
Sold YTD
|
| N | 725 | 51 | 14.21 | 782 | 45 | 17.36 | 840 |
| NE | 431 | 24 | 17.95 | 454 | 27 | 16.81 | 446 |
| NW | 1990 | 180 | 11.15 | 2011 | 157 | 12.80 | 2710 |
| XNW | 125 | 6 | 20.83 | 139 | 10 | 13.90 | 105 |
| C | 908 | 89 | 10.20 | 1007 | 69 | 14.59 | 1447 |
| E | 427 | 63 | 6.67 | 456 | 52 | 8.76 | 782 |
| S | 513 | 74 | 6.93 | 552 | 47 | 11.74 | 746 |
| SE | 600 | 75 | 8.00 | 622 | 65 | 9.56 | 1030 |
| SW | 586 | 84 | 6.97 | 594 | 63 | 9.42 | 846 |
| XSW | 315 | 20 | 15.75 | 310 | 16 | 19.37 | 285 |
| XS | 529 | 54 | 9.79 | 548 | 49 | 11.18 | 730 |
| W | 403 | 49 | 8.22 | 429 | 33 | 13.00 | 542 |
| XW | 66 | 5 | 13.20 | 78 | 2 | 39.00 | 61 |
| 7,627 | 775 | 9.84 | 7,996 | 775 | 12.59 |
Inventory is down by more than 300 from November to December. Considering all the economic turmoil in the country during December (including the auto industry grabbing much attention) and the daily changes going on in the lending industry we are seeing some rather positive signs in Tucson Real Estate for December.
