Tucson Real Estate Absorption Rates October 2008
November 15, 2008
Post Tags: Tucson Real Estate , Tucson Real Estate Market , Tucson-Absorption-Rates-October-2008
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October took a step back from September. There was a shift overall in the areas where sales were the strongest for the month. The West saw a good pickup in activity while the East, Southeast and Central saw a slowing in sales. The overall rate increased by over a month but the XSW area at 27.33 months of inventory skews the overall absorption rate considerably.
|
Area
|
Oct Listed |
Oct
Sold |
Sept
AR |
Sept Listed |
Sept
Sold |
Sept
AR |
Sold YTD
|
| N | 764 | 48 | 15.91 | 740 | 63 | 11.74 | 741 |
| NE | 456 | 37 | 12.32 | 450 | 31 | 14.51 | 398 |
| NW | 1966 | 214 | 9.18 | 1949 | 237 | 8.22 | 2366 |
| XNW | 140 | 12 | 17.00 | 139 | 12 | 11.58 | 88 |
| C | 1027 | 94 | 10.92 | 1017 | 124 | 8.20 | 1281 |
| E | 453 | 52 | 8.71 | 461 | 81 | 5.69 | 664 |
| S | 527 | 67 | 7.86 | 480 | 76 | 6.31 | 621 |
| SE | 618 | 68 | 9.08 | 605 | 103 | 5.87 | 886 |
| SW | 604 | 77 | 7.84 | 604 | 87 | 6.94 | 695 |
| XSW | 310 | 30 | 10.33 | 297 | 16 | 18.56 | 249 |
| XS | 564 | 71 | 7.94 | 544 | 62 | 8.77 | 627 |
| W | 460 | 50 | 9.20 | 476 | 35 | 13.60 | 460 |
| XW | 82 | 3 | 27.30 | 80 | 5 | 16.00 | 52 |
| 7,988 | 823 | 9.70 | 7,857 | 934 | 8.41 |
We are winding down 2008 with the second home market season upon us. The delay in the snowbird arrival due to the presidential election has delayed some purchases. Oh and the economic uncertainty might have something to do with it as well. Please, don’t think I’m making light of the current economy. It is a crisis of confidence. The actual numbers have changed little since last year. The correction and cleaning of the financial markets was a necessary part of making our economy healthy, something it hasn’t been for some time. Even though there was a giant party going on in economic circles it was based on a cancer within. A party based on cancer is never healthy.
Surgery was/is necessary and while we are healing as a nation and learning once again to live within our means and income we need laughter. Doctors have long since learned that patience recover faster when surrounded with laughter. Now is that for a prescription for the future. We can laugh our way out of recession.
