Tucson Real Estate Absorption Rates September 2007

October 24, 2007

Post Tags: tucson-absorption-rates-september-2007 , tucson-real-estate-market-trends-september-2007

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You were expecting a Sponge?

I’m late posting these for this month mainly because I can’t find a picture of a rubber duck with a raincoat, umbrella and boots.

It didn’t just go up slightly, it went way up. Is this cause for concern? Not really. Why? because the issue was brought about by the credit & mortgage industry troubles in August reflecting in the number of closed transactions in September.

This is not just a Tucson phenomena it happened all across the country. In this instance it means we were caught in a much bigger storm than a local monsoon thunderstorm.

Tucson Real Estate Absorption Rates
Aug 07 to Sept 07

Area	Sept Listed	Sept Sold	Sept AR	Aug Listed	Aug Sold	Aug AR	Sold YTD

N	739	60	12.31	725	78	9.29	888
NE	428	44	9.72	425	50	8.50	541
NW	2409	181	13.3	2348	265	8.86	2554
XNW	138	6	23.00	114	12	9.50	126
C	1171	105	11.15	1125	192	5.80	1684
E	522	52	10.03	516	79	6.53	732
S	601	39	15.41	586	48	12.20	730
SE	813	68	11.95	810	92	8.80	985
SW	749	39	19.20	745	47	15.85	566
XSW	350	24	15.90	330	15	22.00	246
XS	650	26	25.00	630	80	7.875	612
W	539	34	15.85	523	55	9.50	535
XW	71	5	14.20	68	6	11.33	70
	9,190	683	13.45	8,954	1,019	8.78

So for the month we saw a big decrease in the absorption rate overall. The number of listings by area didn’t increase by much. The swing in this pendulum was the number of sales. The number of closed sales for October at present looks like it will also be reduced as the mortgage and credit industries try and get their act together.

There are a number of Tucson Homes under contract with qualified buyers, the hold up at the moment are the lenders. Therefore the immediate numbers look unimpressive. This will eventually get worked out over the next few months or sooner.

By Dave Smith in Tucson Real Estate Market

No Responses to “Tucson Real Estate Absorption Rates September 2007”

concerned Says:
October 24th, 2007 at 5:38 pm
Ask and you’ll be given!;-))

Gee, Dave, was trying to give your duckie some boots the whole afternoon and couldn’t… Either something was wrong with the site or you’ve become very popular…;-)

Anyway, here are the booties!:-)

As far as the numbers… obviously nothing unexpected… In that context, there’s another, more appropriate, duckie:

Two links probably won’t make it through your spam filter, but oh, well…
David Smith (115 comments.) Says:
October 24th, 2007 at 5:43 pm
Concerned,

I’ve got no links so in this case it just might be Wordpress stripping them off instead of the spam filter.

Wordpress is pretty picky, unless you just put the link in the email and I edit it from this side to show the images. You actually got booties for the duck. Thank you : )
concerned Says:
October 24th, 2007 at 6:12 pm
Guess I forgot image tags weren’t working here:

Duck Boots

One Dead Duck

Betcha my booties are cuter!;-)
David Smith (115 comments.) Says:
October 24th, 2007 at 6:22 pm
Concerned,

I don’t know that they are cuter, but they are funnier for sure, especially dead duck.
concerned Says:
October 24th, 2007 at 6:42 pm
I didn’t read carefully.;-) Thought you said you got duckie booties already. That’s why I said mine were cuter.

That duck under the tire, though, illustrates your post perfectly.:-(

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