No Fooling March Best Month Since July 2009
Beware of falling poppies
I know you might expect some kind of April Fools post today. In a way I guess you could call this a No fooling around post, or we were all fooled by this one. March came in like a lamb with a slow start to the closed transactions being recorded. But it is going out like a Lion.
The final numbers for March aren’t in yet. The brokerages have two business days after the close of the month to enter closed transactions. Today is the first and tomorrow would normally be the second, but the TAR offices are close this Friday for Good Friday. However, most brokerages will be open. Therefore, I don’t know if there will be an additional “Grace” day on Monday or if they will pull the stats on schedule.
But all that procedural stuff aside, we are at 1064 closed transactions as the day gets started on this April 1st 2010. The last time we had more than this was July 2009 when there were 1235 closed units.
It will be interesting to see what the pending sales look like going into April.
We are also seeing a slight increase in the Average and Median sale price.
Interest rates took a big jump this past week as anticipated.
And there are a lot of people out shopping now to try and make the April 30, 2010 deadline for the tax credits which expire on that date if you don’t have a property under contract.
I’ll be updating the summary this evening after 5 pm and again tomorrow evening. It will be interesting to see where the final numbers fall for the month. No matter how many more are added, March was a good month for Tucson’s Real Estate Market
There is no doubt about it. The market is rapidly shifting and the inventory is drying up. All the people who have been waiting on the fence for the right time to buy are all jumping into the market at the same time.