Tucson Home Sellers - Knowing when to Cheer
October 18, 2007
Post Tags: Tucson Real Estate Market , tucson-homes , Tucson-New-Construction , Tucson-Resale-Market
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Have you ever been to a football team and the cheer leaders were there to help you know when to cheer. Have you ever been to the taping of a television program and they told you when to make noise or clap?
Most of us figure we know when to laugh or clap on our own, but sometimes we all need a little help.
This past week there was an article in the “Arizona Daily Star” about New Home Construction. It focused on a speech given by Don Diamond saying it could be 2010 until we see a rebound in the New Construction Housing market in Tucson.
I imagine there are some of you that read this and thought “Oh, my, more bad real estate news”
Stocks and Bonds
Let’s take an example from the world of investment. When Stocks are Up the Bond Market is Down. When the Bond market is Up the Stock Market is . . .
Much the same is true of Real Estate, when New Construction is being built and selling it can be hard on the Resale Market. However, the resale market seldom reflects on the New Construction market. Different dynamic going that way but you get the point.
If they aren’t building new homes and selling them for deep discounts. And there are people moving into Tucson and buying houses they are going to turn to the resale market. If there aren’t any new homes for them to buy they will be buying homes Tucson Home Owners have for sale.
Therefore, if the NC market is down for the next couple of years the resale market should do quite nicely. Shall I start the cheer?
October 18th, 2007 at 8:35 am
Hi Dave - exciting news in my book! I’m hoping for the same effect back east with new homes since that’s what we’ll be looking to buy next year.
October 18th, 2007 at 8:46 am
Hi Erin,
Yes it is good news for the resale market. The way the media reports Tucson Real Estate Market you would think there is no such thing as a resale market.
They cry the blues over lower new home starts without realizing those new home starts over the past couple of years have contributed greatly to the high inventory in our market now.
I’m writing a post for tomorrow on this very topic.