June 2008 Tucson Housing Report

Market Continues Towards Stabilization As we approach the second half of 2008 we continue to see market improvement. We see the total unit sales continue to rise for the sixth consecutive month while the active listings continue to decrease. Home sales volume as well as average
sales price is still on the rise.

We also see improvements quarter over quarter with increases in sales volume and reduction in average sales price, which continues to reflect a buyers market.

Modest near-term movement is expected in existing-home sales, with a recovery in sales seen during the second half of the year, according to the latest forecast by the National Association of REALTORS®.

With interest rates staying under 6.5% it is a great time to buy a home in Tucson.

New Listings-June 2008- 2,095 2007-2,820 May 2008-2,282 2007-2,960

Median Sales Price-June 2008-$200,000 2007-$225,000 May 2008-$201,000 2007-$223,000
Average Sales Price-June 2008-$257,449 2007-$293,443 May 2008-$250,803 2007-$278,619

Pending Contracts-June 2008-951 2007-2,053 May 2008-1,485 2007-1,191

Active Listings-June 2008-8,140 2007-8,665 May 2008-8,527 2007-9,721

Active/Sold by Zip Code
85614 342/33 85715 164/20 85742 306/33
85701 40/3 85716 181/41 85743 350/40
85704 238/34 85718 423/51 85745 322/28
85705 208/26 85719 220/32 85746 322/33
85706 431/49 85730 208/42 85747 184/48
85710 284/54 85735 107/8 85748 144/26
85711 205/37 85736 62/2 85749 215/11
85712 210/38 85737 311/42 85750 350/46
85713 309/28 85739 257/32 85755 298/22
85714 56/3 85741 184/22 85757 139/20

For more information on Tucson Real Estate call Julie Nellis, Long Realty, 520-918-3843 or visit her website at www.tucsonhouses4you.com

Julie Nellis can help you find the home of your dreams or sell your current home so you can follow your dreams.