Ability Realty
Barry Fotheringham, Broker
7360 E. 22nd Street,
Tucson, AZ 85710
We are now midway through 2013 and I am not really sure where we are headed. Our Economy is the factor that should have gotten us out of this terrible hole we are in. Are there bright spots? Yes a few, but we have a Government that is starting to run our lives and believe me you are in for a BIG surprise when Obama Care fully kicks in for all the peons that are not government employees. Can you believe the gall of Congress almost exempting themselves totally from Obama Care and Obama going along with it. This whole thing stinks to high heaven.
The Statistics for July are OK, but I see things going in the wrong direction. I am not sure if it is the Summer blues or school starting. I do know without more jobs and better paying jobs we will continue at this pace. After 4 1/2 years we should be well out of the recovery zone but all the uncertainty is keeping us in this hole.
Interest rates have been creeping up a little but still a very good rate. It seems Rentals and Investors are a large part of our business probably due to the Housing bubble. We are still working through that bubble.
| Feb. 2013 | Mar. 2013 | Apr. 2013 | May 2013 | June 2013 | July 2013 |
|
|---|---|---|---|---|---|---|
Average Sales Price | $186,482 | $191,881 | $192,160 | $190,156 | $196,376 | $197,444 |
Median Sales Price | $149,000 | $150,050 | $157,000 | $156,500 | $160,000 | $159,900 |
Total Units Sold* | 951 | 1329 | 1323 | 1437 | 1399 | 1263 |
Active Listings | 4325 | 4210 | 4027 | 3953 | 3953 | 3933 |
Days On Market | 58 | 59 | 57 | 57 | 53 | 50 |
Listings Under Contract** | 2680 | 2712 | 2829 | 2702 | 2342 | 2226 |
Sales Over $500,000 | 32 | 54 | 46 | 61 | 48 | 49 |
| The figures on this table are subject to change due to late reportings and corrections. These changes are reflected in the next months statisical blog post after we receive the updated information. For this reason you will find inconsistencies if you compare the data on multiple tables. * Closed during the month. ** For the current month (not the total listing under contract) |
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I know we will some day reach the spot where Owners will be able to sell their homes and at least break even. When that happens we will have a smaller percentage of Short Sales and REO/Foreclosures.
As you can see prices are going up, which will cause your payments to go up if you wait too long. If you can, start looking into purchasing. Be safe but not sorry.
Call me at 240-7130
Aug 14, 2013 No comments yet Share