Ability Realty
Barry Fotheringham, Broker
7360 E. 22nd Street,
Tucson, AZ 85710
Here we are less than a week until Christmas. I think we in the USA are going to get a lump of Coal for Christmas as nothing will be right when we hit the edge of the Cliff. I can guaranty, you will not like what is going to happen to your wallet next year. I am still going to wait until January to post my true feelings on what I think is going to happen and I do not think it is good.
Now for the Statistics and results for November. Look at Listings under Contract and Total Units Sold. Do you see a trend that does not look good? Now look at Active listings. Could there be a third leg of a not so good trend coming? If the results of the Financial Cliff is more of the same, we may see another recession around the bend. My feeling is others see this same thing and have backed away for now from buying. Rates are still at all time lows so it is not that. I really see fear of the unknown, which we have been under that shadow for over two years.
| Jun. 2012 | Jul. 2012 | Aug. 2012 | Sep. 2012 | Oct. 2012 | Nov. 2012 |
|
|---|---|---|---|---|---|---|
Average Sales Price | $174,793 | $181,878 | $180,193 | $182,041 | $175,850 | $182,539 |
Median Sales Price | $140,000 | $140,000 | $145,000 | $144,950 | $143,000 | $144,627 |
Total Units Sold* | 1269 | 1137 | 1179 | 938 | 1074 | 994 |
Active Listings | 3474 | 3477 | 3564 | 3845 | 4195 | 4430 |
Days On Market | 68 | 67 | 65 | 45 | 49 | 51 |
Listings Under Contract** | 2666 | 2595 | 2525 | 2409 | 2364 | 2237 |
Sales Over $500,000 | 41 | 43 | 38 | 28 | 26 | 29 |
| 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 am praying I am wrong, but for some reason our country just seems to think they have a big piggy bank that they keep stuffing with IOU’s. We can not keep doing this. We have to cut spending, and in some manner raise revenue to start paying down the debt. How many of you know everyday workers who will start a business and hire people? They do not have the money to do it. Now certain people want to tax the people that can start a business or increase the size, while hiring people. Makes sense to tax the rich?!? Sure, and you can forget about increased hiring and therefore no new jobs! If you have never run a business you have no idea what is involved and the risks that are taken. 
More in January.
I want to wish everyone a MERRY CHRISTMAS and a better New Year.
Barry
Dec 20, 2012 No comments yet Share