Tucson AZ Real Estate No Bubble Here
Almost everyone agrees that if there was a bubble there isn’t one now. It has either popped suddenly, or it has a slow leak like a balloon that just gets smaller and smaller as it gets closer and closer to the floor. I thought it might be interesting to take a look at:
Tucson AZ Real Estate Average Sale Price 2007
I know you get the impression from reading the newspaper articles on Tucson Real Estate and real estate around the country and you would think that prices are coming down, down, down.
Once again, I’m asking, what prices are coming down? Asking Price? or Sale Price?
There are too many generalizations when it comes to reporting what is going on in the real estate market. It might be the Tucson Real Estate market or the national real estate market.
If we read about flooding along the Mississippi River I don’t see people in Tucson boarding up their homes and heading for Mount Lemmon. But we hear about the Housing Market being in trouble and it sets off some kind of panic here in the desert.
Housing Market? Are we talking about New Construction or the resale market. Many time the “House Market” figures concern new construction and housing starts.
I can tell you right now if you are trying to sell your home on the Tucson Residential Resale Market you don’t want to have to compete with New Construction. For you, a downturn in housing starts is a good thing, especially if the house you are trying to sell is in a subdivision that still has new construction going on.
So what has been happening in the Tucson Real Estate Market Average Sale Price.
Here is the graph showing the increased progression of Average Sale Prices. Click on the graph to see the larger version with 2007 Average Sale Prices Overlayed. Of course we expect those number to be down. The question is “How Far Down?”
Once again we are faced with perception vr reality. There are more homes on the Market in 2007 than in 2006. But that is changing. There are fewer sales in 2007 than in 2006. Couple this with all the national media coverage of falling home sales and we all get the idea Home Sale Prices are plummeting. In some parts of the country they are. But not in Tucson.
Technorati Tags: Tucson Residential Resale Market, tucson housing market, tucson real estate[where: 85737]
Dave Smith | Tucson Real Estate Market
One Response to “Tucson AZ Real Estate No Bubble Here”
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# Teresa Boardman on 26 Sep 2007 at 3:14 pm
