Tucson Real Estate Absorption Rates September 2007

calendar October 24, 2007

Post Tags: ,

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!


You were expecting a Sponge?

I’m late posting these for this month mainly because I can’t find a picture of a rubber duck with a raincoat, umbrella and boots.

It didn’t just go up slightly, it went way up. Is this cause for concern? Not really. Why? because the issue was brought about by the credit & mortgage industry troubles in August reflecting in the number of closed transactions in September.

This is not just a Tucson phenomena it happened all across the country. In this instance it means we were caught in a much bigger storm than a local monsoon thunderstorm.

rubber duckTucson Real Estate Absorption Rates
Aug 07 to Sept 07

Area

Sept Listed
Sept
Sold
Sept
AR

Aug Listed
Aug
Sold
Aug
AR
Sold YTD
N 739 60 12.31 725 78 9.29 888
NE 428 44 9.72 425 50 8.50 541
NW 2409 181 13.3 2348 265 8.86 2554
XNW 138 6 23.00 114 12 9.50 126
C 1171 105 11.15 1125 192 5.80 1684
E 522 52 10.03 516 79 6.53 732
S 601 39 15.41 586 48 12.20 730
SE 813 68 11.95 810 92 8.80 985
SW 749 39 19.20 745 47 15.85 566
XSW 350 24 15.90 330 15 22.00 246
XS 650 26 25.00 630 80 7.875 612
W 539 34 15.85 523 55 9.50 535
XW 71 5 14.20 68 6 11.33 70
  9,190 683 13.45 8,954 1,019 8.78  

So for the month we saw a big decrease in the absorption rate overall. The number of listings by area didn’t increase by much. The swing in this pendulum was the number of sales. The number of closed sales for October at present looks like it will also be reduced as the mortgage and credit industries try and get their act together.

There are a number of Tucson Homes under contract with qualified buyers, the hold up at the moment are the lenders. Therefore the immediate numbers look unimpressive. This will eventually get worked out over the next few months or sooner.

By Dave Smith in Tucson Real Estate Market

No Responses to “Tucson Real Estate Absorption Rates September 2007”

  1. concerned Says:
    October 24th, 2007 at 5:38 pm

    Ask and you’ll be given!;-))

    Gee, Dave, was trying to give your duckie some boots the whole afternoon and couldn’t… Either something was wrong with the site or you’ve become very popular…;-)

    Anyway, here are the booties!:-)

    As far as the numbers… obviously nothing unexpected… :-( In that context, there’s another, more appropriate, duckie:

    Two links probably won’t make it through your spam filter, but oh, well…

  2. David Smith (115 comments.) Says:
    October 24th, 2007 at 5:43 pm

    Concerned,

    I’ve got no links so in this case it just might be Wordpress stripping them off instead of the spam filter.

    Wordpress is pretty picky, unless you just put the link in the email and I edit it from this side to show the images. You actually got booties for the duck. Thank you : )

  3. concerned Says:
    October 24th, 2007 at 6:12 pm

    Guess I forgot image tags weren’t working here:

    Duck Boots

    One Dead Duck

    Betcha my booties are cuter!;-)

  4. David Smith (115 comments.) Says:
    October 24th, 2007 at 6:22 pm

    Concerned,

    I don’t know that they are cuter, but they are funnier for sure, especially dead duck.

  5. concerned Says:
    October 24th, 2007 at 6:42 pm

    I didn’t read carefully.;-) Thought you said you got duckie booties already. That’s why I said mine were cuter.

    That duck under the tire, though, illustrates your post perfectly.:-(

Leave a Reply

*
To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Click to hear an audio file of the anti-spam word

Related Posts from the Past:



« Tucson This May Be The Best Time To Buy A House  Previous Post
Next Post  Tucson Homes - Company Relocation »