The month of May is closed for data to be reported by the Tucson MLS Stats report for May 2010. The data as in all months continues to come in as “late reporting”. But we can get a pretty good snapshot of the state of the market from what we have recorded already.
Here is the summary snapshot.
The Short Story
May of 2009 recorded 1029 closed residential transactions. The actual count for May 2010 as I write is 1200 and I”m sure it will be at least 1229 by the end of June if history is any indicator. Like the April figures reported at 1227 and the count is at 1256 and counting.
Short Sales and REO
The percentage of the total for May was 41%. In April it was 37%. It might seem a high percentage of the total. That’s because it is. But this isn’t a bad thing. Getting these vacant homes of the market and occupied is healthy for Tucson.
Average and Median Sale Price Dripped
I’m using dipped because yesterday the unemployment rate dipped below the 10% I heard another report where it “slipped”.
When reporting real estate it Falls, Plunges, etc. So if you want a high number to appear worse than it is it will dip or slip. But if you want a low number to appear worse than it is it has to fall or plunge. (I say that for future would be reports)
It seems the entire economy took a breather in May. The stock market PLUNGED and a lot of people tightened up the pocket book.
Any month in Tucson when there are over 1000 closed residential transactions it is a pretty good month.
June is Family Move Month
The snow birds have long flown from Tucson shores (we have beach just no water). Once school is out and families transferring to Tucson make June the “Let’s get a new nest for the kids before school starts” month.
I’ll keep you posted on how the day to day flow of the market is going. Right now, there is some funny numbers coming out of Flexmls Tucson reports so I won’t quote any of the things there. Thanks to Kelley Koehler for bringing the data anomalies to my attention this morning.
