Of note: Months supply of inventory is now down to 8.3 months in Tucson, from almost 13 in January 2008. Below are a few good stats.

 

•-          The reduction in Months of Inventory is encouraging news. Every month this statistic improves, it brings us closer to a balanced market and price stabilization. Buyers and sellers should know the market is moving in a positive direction, not negative. Lower median prices will mean more buyers will take interest.

 

•-          Recent price declines may be starting to be a positive influence on buyer activity. In fact, nationwide April saw an increase of 6.3% in the index of pending activity in existing home sales and many market segments inside Tucson are experiencing above average buyer activity. For instance in zip code 85747 there are currently only 3 months supply of inventory.

 

If you have any questions on the Key Market Indicators or other market reports please feel free to contact me.

Rich Lecisnki

Long Realty Company

520-834-4663

http://rlecinski.longrealty.com

www.arizonagreatliving.com

 

 

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