Tucson Home Sales Appreciating at 14.9 Percent
December 4, 2006
Post Tags: tucson-buyers-market , tucson-homes-appreciate-15-percent-in-2006 , tucson-homes-appreciate-third-quarter-2006 , tucson-real-estate-market-up , tucson-real-estate-search-engine
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The figures are in for the first 11 months of the year. We were expected to show an overall appreciation of 5 - 8 percent for the year. At times it looked like that number was right on and others like it might be closer to the lower number.
When the third quarter came in with an increase of 3.3 % for the quarter it turned some heads putting us over 10 % for the year, but there was still 3 months to go and with a slight drop it would put the figures closer to the 8% some forcast.
Now with 11 months down, there was a slight increase, approximately 1 % which put us overall at 14.9 % for the year with only one month to go.
I love the way the paper reported this good news, making it once again appear to be bad news to the casual reader. Title in The Arizona Daily Star on December 1st edition “Home-price rise in Arizona slows for third quarter” making it sound like it is down, when what has happened is the rise has slowed, but sale prices are still increasing. Right now the rate is almost 15 % for the year, and when the December firgures are posted I don’t doubt it will be that or more.
If you take a look at the article above you will see the sidebar to the right in grey showing the specifics of the Tucson market.
We have seen a significant increase in buyer traffic in the last couple of weeks with more serious buyers coming to the market every day. We have seen a number of homes go under contract this last week some of which have been on the market for a substantial time.
Yesterday we had a lady call saying she has had her eye on this house and keeps checking back to see more photos of the home. She called apparently was using our site to check it’s status and availability. She finally decided this had to be her next home and wanted to write a contract when she did the check yesterday morning, it was under contract. She couldn’t believe it.
She had been watching waiting and thinking about this home all that time and even said, “This is my home.” We are hoping we can help make it her home. It is in the inspection period and it doesn’t look like it will fall out. We sent her several others like it for her to look at.
Unfortunately we are seeing this same thing happen, it seems buyers have taken the attitude that if it is a buyer’s market then I can take my time, the home will be there when I want it.
If you see a house you really like, you don’t have to decided in hours like last year, but you don’t have months either. These past two weeks we have seen quite a few properties come on the market and go under contract in two or three weeks.
If you see something in Tucson you really like, don’t think about it till it is gone. Let us know, we will get you all the information you want. Remember this is the home of the Tucson Real Estate Search Engine.
December 4th, 2006 at 7:57 am
Good post. The media does spin things constantly for a headline. And yes, even in a buyers market, it isn’t like the genie gives you three wishes….