Market Update
First - return visitors to the website may have noticed a pretty substantial re-design. This obviously took many hours and there is still more content needs to be added as time permit. I actually had a great compliment the other day. A real estate agent from out of town was looking at Tucson Real Estate. She said that I had created one of the most user friendly websites she had ever seen. I thank her very much. Compliment much appreciated. In the website re-design I implemented a new very powerful MLS search engine. When a user creates an account, they can build searches, use existing searchs and sort/store/track listings they are interested in. It is one of the best MLS search engines available!
Second update has to do with the market itself.
June marked the 1/2 way point for the year. Everyone is watching the housing market since it is a key indicator of the overall health of the economy.
In the month of June, home sales volume was up over May by 14.63% and the average sales price rose by 3.06%. However, the median sales price was down over may by 2.88%. There was a decrease in active listings by 3.77%
Inventory in the metropolitan area continued to decrease which has a stabilizing effect on prices.
Interest rates have returned to near historical lows. In late May and June we saw dramatic changes in interest rates. Rates were as high as 5 3/4 to 6% for FHA and Conventional loans. We are now seeing rates as low as 5.25%.
Many of our clients are first time home buyers. Many buyers have questions on the first time home buyers program. We have established a 24 hour Recorded Information that answers most questions.
That number is:
1-800-945-0196 Ext 303
Categories: Tucson Real Estate
Tags: financing Tucson Real Estate Market Report
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