Tucson Absorption Rates December 2009 6.79
January 19, 2010
Post Tags: Tucson Absorption Rates December 2009
The Absorption Rate for December moved a bit higher than November. This was expected since sales typically slow in December as the number of holiday events and travel supersedes shopping for a new home.
The biggest statistical change was in the XW where only 1 property sold in December. Fifty-five on the market make it a 55 month inventory. That’s not reality, but it is statistical. The year ended in the 6 month inventory range. Granted it could have been a little closer to the beginning of the month than the end of it. But it is a lot better than the overall 11 and 12 months of inventory we saw when the year began.
There are still a couple areas of time showing a lack of housing. The S at 3.65, SW at 3.95 are well under the 6 month mark. The N, XNW, XSW and XW are all in Double Digits. These Extended (X) areas outside of the Tucson itself are included in the MLS statistics and they contribute to a higher overall absorption rate.
When the absorption rate is figured on price tears it is a different story all together. I should have a link to that up yet this week. Our Brokerage provides a good price tear absorption rate report by zip and price. I usually have that in the side navigation and will add it to the bottom of this post when I have the report.
Considering the state of the economy in the nation, Arizona and Tucson the Tucson real estate market has done very well in 2009. But everyone is looking for a better 2010. Looking and getting, however, are two entirely different things. We shall see what 2010 holds. I hope next January I’m not writing the same thing I’ve been writing for the past two year. That being, “Everyone is glad to see 2007, 2008, 2009, end and are looking for a better year in . . .”
