Ability Realty
Barry Fotheringham, Broker
7360 E. 22nd Street,
Tucson, AZ 85710
Well I predicted this last month. As far as I am concerned it was a bad month. Everything went the wrong way, except Days on Market. Are we in trouble? No, but it really is showing a weak interest. The Listing inventory is starting to increase which will cause Sellers to wait again and possibly lower prices.
| Apr. 2013 | May 2013 | June 2013 | July 2013 | Aug 2013 | Sep 2013 |
|
|---|---|---|---|---|---|---|
Average Sales Price | $192,160 | $190,156 | $196,376 | $197,444 | $191,283 | $189,042 |
Median Sales Price | $157,000 | $156,500 | $160,000 | $159,900 | $160,500 | $155,399 |
Total Units Sold* | 1323 | 1437 | 1399 | 1263 | 1205 | 1051 |
Active Listings | 4027 | 3953 | 3953 | 3933 | 4249 | 4717 |
Days On Market | 57 | 57 | 53 | 50 | 48 | 47 |
Listings Under Contract** | 2829 | 2702 | 2342 | 2226 | 2064 | 1868 |
Sales Over $500,000 | 46 | 61 | 48 | 49 | 41 | 37 |
| 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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Rates did go back down again and we are in the 4.25% to 4.5% range. January will bring tougher standards for home buyers and stop some who might have made the current requirements, to lose out. If you do not have the best Credit scores you might want to try to buy in the next couple of weeks as you may have to wait a while before you can purchase.
Our Government is fighting among themselves again over the Debt ceiling and our non budget. Looks like they may get something together but I heard the House wants to make changes to the Senate Bill which may keep us in limbo still. We have to cut spending and start reductions in many areas. We also need to do the right thing for America.
If you are ready to buy, get started before November 1st. Get yourself Pre-qualified (let me know if you need a lender) and Call me at 240-7130.
Oct 15, 2013 No comments yet Share