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Absorption Rates By Area July – August 2008
Area | Aug Listed\ | Aug Sold | Aug AR | July Listed\ | July Sold | July AR | Sold YTD |
| N | 716 | 57 | 12.56 | 730 | 75 | 9.73 | 628 |
| NE | 446 | 40 | 11.15 | 451 | 41 | 11.00 | 325 |
| NW | 1946 | 254 | 7.66 | 1987 | 241 | 8.24 | 1908 |
| XNW | 134 | 4 | 33.9 | 124 | 7 | 17.71 | 63 |
| C | 965 | 127 | 7.59 | 984 | 157 | 6.26 | 1050 |
| E | 445 | 60 | 7.41 | 445 | 76 | 5.85 | 528 |
| S | 496 | 69 | 7.18 | 513 | 65 | 7.89 | 473 |
| SE | 621 | 91 | 6.82 | 625 | 95 | 6.57 | 713 |
| SW | 602 | 78 | 7.71 | 625 | 62 | 10.08 | 529 |
| XSW | 295 | 21 | 14.04 | 309 | 14 | 22.07 | 201 |
| XS | 524 | 46 | 11.39 | 519 | 59 | 8.79 | 488 |
| W | 490 | 51 | 9.60 | 480 | 47 | 10.21 | 373 |
| XW | 72 | 5 | 14.40 | 72 | 5 | 14.40 | 43 |
| 7,763 | 903 | 8.59 | 7,876 | 945 | 8.29 |
The inventory continues to drop in most areas of Tucson and the months of inventory didn’t decrease overall due mostly to the rise in the XNW area. Those 33 months of inventory in that area as skewing the overall absorption rate.
An Economy Driven By FEAR is a Stampede
As I write this we are in the midst not of the Mortgage Meltdown but the financial meltdown, or I should say the “Lack of Confidence in the Financial Markets Meltdown” It is driven by “FEAR“. An economy driven by FEAR is hard to predict. No one knows when the panic of the stampede will cease. Time will tell, hopefully by the end of this week the FEAR ( for now ) will be reigned in.
Absortion rate is the most important part of stats, hopefully the numbers will continue to decline and Tucson’s market will continue to stabilze for seller right now times are difficult. On the other side for buyers times are good however as active listings come down sellers gain a little over them.