Tucson Association of Realtors has finally finished their report. I am inclined to agree with Dave Smith that TARMLS should be able to get this information our much faster. I like Dave’s perspective on the market, particularly in the northwest. I tend to take a slightly different, yet similar view.
As I reported earlier this month, sales have drifted down to near 1996 statistics. With only 683 reported home sales through the MLS the number of sales are dramatically low. Drama that is filled with emotion. Borrowing words of the renowned “Grave Dancer” Sam Zell, “It’s a confidence crunch, not a credit crunch…” that has lead to the current conditions in real estate. Now, this is a man who makes billions of dollars following housing bubbles. What is he seeing to make billion$ that millions of home buyers are not seeing? Why should he get all the money that home buyers could get? Confidence, not credit has lead to an over supply of homes on the market with reduced sales.
The seasonal reduction in home sales is upon us in Tucson’s real estate market and will last until March. Using percentages Tucson real estate sales it is easy to see that sales can be expected to decline slightly during September through February. Using May, the highest sales month as 100%, the percentages are as follows.
- Jan 59%
- Feb 68%
- Mar 87%
- Apr 90%
- May 100%
- Jun 98%
- Jul 91%
- Aug 91%
- Sep 77%
- Oct 80%
- Nov 71%
- Dec 73%
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