The Tucson Real Estate Market Has Finally Plateaued.. What’s Next?

Ever since the housing craze of 2005 the growing consensus was that the US was going to experience a housing “crash” across the nation that would weaken, if not cripple, our economy. Fortunately it looks like it has been more of a soft landing and for the most part it has been much softer than many experts predicted.

In the Tucson Real Estate market the results of the past few years of activity is finally becoming evident with home values growing just .01% in the first quarter of 2007, according to the Office of Federal Housing Enterprise Oversight. In a new article on CNN.com from yesterday (May 31, 2007), the National Association of Realtors cited home prices in the Tucson market declining 2.5% from one year ago.

This isn’t really a surprise; there are more than TWICE as many active listings right now than there were two years ago. In April 2005 there were 3,493 active listings. Last month, April 2007, there were 10,185! The Days on Market (DOM) for homes has increased from 37 days to 67 days.

Read More>>

• Rate this Post!

  Select Your Rating:

  • 5 Stars (Excellent!)
  • 4 Stars
  • 3 Stars
  • 2 Stars
  • 1 Stars (Poor)

• Share this Post

  Share With A Friend:

  Your Name Your Email

  Friend's Name Friend's Email

  Optional Message

  Send

• Print
• Social Bookmarking

  Add to Bookmarks: