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We are on the edge of going under 5 months of inventory in the Tucson Real Estate Market. Moving down in July from 5.44 in June to 5.13 this month. I do expect there to be a slight bump up in August, but not above the 6 months normal “Mark” for inventory in a “Normal” market.
Tucson Absorption Rates by Area for Tucson July 2009
Things got a little dryer in July as we absorbed more inventory
I’ll keep this short and sweet. And sweet it is, after a year + of seeing our inventory go to over 12 months and in some areas to more than 18 months it is good to see it back down to 5.13 for Tucson and as low as 3.54 in the SE.
The numbers are even a little better than this because the total listings number is accurate the total units sold is now 1206 not 1184. If those sales which have been entered late had been on time the Absorption Rate would have been 4.99 months of inventory. Come to think of it, IT IS.
Hi Dave,
You win! I look forward to buying you breakfast or lunch in October when your schedule permits. It has been fun reading your blog when cruising British Columbia this summer. I am your International Audience!
Trust me, you all working in the RE industry in Tucson have it much better than those working in the State if Washington………..it’s not good, along with most of the country. You/we are in one of the few “good pockets”
Chris