June closed out the first half of 2009 breaking records for the year! Home sales volume was up over May by 14.63%, average sales price was up by 3.06%, pending contracts were up by 9.98%, and home sale units were up by 11.23%.
With the first 6 months of 2009 behind us we can now take a realistic view of the absorption of inventory which has moved in a positive direction with June pushing that number up to 22.9%. Even though we have a long way to go, these numbers show a positive sign.
Activity by zip codes shows us that 85718 continues to have the highest number of active listings at 415 with 85750 taking second at 323. There are many good deals to be had in these areas.
All in all, we’re looking forward to the second half of 2009 with high hopes of the continued trend of recovery in Tucson’s Real Estate Market.
First time home buyers have an unprecedented opportunity for three reasons:
- The $8,000 Federal Tax Credit for First Time Home Buyers (including those who have not owned a home for 3 years)
- Historically low interest rates
- An abundance of relatively low priced listings (the Tucson Real Estate Market currently has over 2,700 active listings priced under $200,000!)
There are opportunities for Luxury Home buyers as well in that there are over 1,000 active listings priced at $500,000 and above.
You can read the full report here. Make the decision to participate in the American Dream and enjoy the benefits of home ownership.
Denise McCreary
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