DECEMBER MARKET LOOK
Jill and I wish to take this opportunity to wish you all a Joyous Holiday Season. For many of us, 2009 was not the brightest of times, so we hope that the New Year brings with it a generous helping of joy.
We have looked at the charts for activity through November, and believe it or not, there are a couple of bright spots. October and November showed small bumps of activity. The prices are down, however, and both median and average prices in the Tucson sector dropped to about $150,000. It does not look like they are going to go much lower.
Nationally, foreclosures continue to rise, along with unemployment. Those who can afford a home are going to make their move soon.
Interest rates are going to go UP, probably in 90-120 days. Thus, as responsible REALTORS we are having “Heart to Heart” talks with our sellers. Our goal is to get them to realize these issues and get their properties priced competitively. This, we hope, will allow them to get in on what should be a spurt in the Spring.
We see lots of buyers, as we do about 4 open houses a day, and there are people out there who are capable, and they WANT, or NEED, to buy. They are quite knowledgeable however, and they will not over pay.
The inventory continues to hover just over 900 units, so the ones that are priced right are seeing activity.
Again, Happy Holidays to all, and thanks from both of us for your continued support. We look forward to serving you, your friends, relatives and associates in the coming year.
Thank you for your referrals.
JILLandPETE