Tucson Real Estate Market Activity for September 20, 2007

New Listings 168
Price Reductions 123
Contingent Sales 35
Pending Sales 31
Closed Sales 46
Expired Listings 43

Please contact me for all of your Tucson Real Estate needs, nellisja@aol.com

August 2007 Market Review

Given the news surrounding the local mortgage market last month, Tucson's real estate market has fared better than we expected. The National Association of Realtors has lowered their existing-home sales forecast, based largely on unusual disruptions in the mortgage market. However, here in Tucson we did not see a drastic decline in unit sales-the total units sold for August 2007 are down only 79 units from last month, and are still above levels we saw in January and February of this year.

Average and median sales price have also rebounded in August 2007 after falling from June to July. The average sales price in August 2007 totaled $273,932 up over $5,000 from August 2006. Median sales price rose to $220,000 down $900 from this time last year.

This just goes to show that the saying "all real estate is local" is very true. Tucson has a unique real estate market that withstands many of the pressures seen on the national level. There are still many mortgage lenders in Southern Arizona that can serve local buyers.

Tucson Real Estate Market Activity for September 15, 2007

New Listings 52
Price Reductions 56
Contingent Sales 8
Pending Sales 9
Closed Sales 6
Expired Listings 58

Visit www.tucsonhouses4you.com to search for properties on the Tucson MLS system.

It Is Time To Take A Deep Breath

By BEN STEIN
Published: September 9, 2007
"WHO would ever have dreamed that credit could be so thrilling? And yet tremors and shivers over credit, and especially over subprime mortgages, have led to some real panic in the financial markets, and rings of fire in the ventricles of the coldest-hearted financiers......." to read the whole article, click here https://longmail.longagent.com/exchweb/bin/redir.asp?URL=http://www.nytimes.com/2007/09/09/business/09every.html?_r=1%26oref=slogin

Home Mortgage Interest Rates

30 Year Fixed 6.125%
30 Year Fixed VA 6.500%
30 Year Fixed FHA 6.500%
15 Year Fixed 6.000%
30 Year Jumbo 7.750%

Tucson Real Estate Market Activity for September 13, 2007

New Listings 188
Price Reductions 97
Contingent Sales 27
Pending Sales 23
Closed Sales 39
Expired Listings 18

Visit www.tucsonhouses4you.com for more on Tucson Real Estate

Tucson Real Estate Market Activity for September 11, 2007

New Listings 169
Price Reductions 138
Contingent Sales 42
Pending Sales 34
Closed Sales 31
Expired Listings 22

For more on Tucson Real Estate, visit my website at www.tucsonhouses4you.com