10445 N. Oracle, Suite 121
Tucson, AZ 85737 Office: 520-918-5968 Toll-Free: 888-825-8251 ext. 5968 Fax: 520-989-6114 Brenda@BrendaOBrienTeam.com 
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Brenda's Tucson Housing Market Report
December 2009
Business Week Says:
"If You Don't Buy a House Now, You're Stupid or Broke!"
Federal Housing Tax Credit Extended & Expanded!
First Time Home buyers Details - Move-Up/Repeat Buyers Details
Business Week in the News. In a recent article in Business Week dated December 8th Marc Roth writes "Interest rates are at historic lows but cyclical trends suggest they will soon rise. Home buyers may never see such a chance again". Read entire article Strong Buyer Activity continued as expected in November with 1,011 sales, up more than 54% over the same period last year. Buyers are definitely flooding back into our market. Part of this is due to the tax credits referenced above and part are pent up demand starting to unwind and enter the market. Everyone is recognizing this is a great time to buy a home. The National Real Estate News is Improving Daily. Practically every report, statistic or news release regarding the national real estate climate is positive showing that the housing industry is indeed climbing up out of the slump that has lasted for the last few years. Interest Rates are still at all time lows but past history indicates that they must start back up soon. Current interest rates have been kept artificially low by actions of the federal government for several months in their efforts to stimulate the economy. We must all recognize that this artificial interest rate environment we are currently enjoying will not last. Buying Opportunity of a Generation (or more). We are in the heart of the "Perfect Storm" for home buying as we head into 2010. There is a window of opportunity that will last until April 30, 2010 for those who are ready to buy. Current Interest Rates combined with Abundant Inventory and Federal Stimulus Tax Credits make this a buying opportunity the likes of which we may never see again. If you are Even Thinking about buying a home anytime soon, contact us with your questions. We can give you answers on the Tax Credits and even show you how to sell your current home at a loss and more than make up the difference on the purchase of your new home. Key prior month statistics from the Tucson Association of Realtor’s December 2009 Report show: Total Tucson Home Sales Units: 1,011, Increased 54.59% from November 2008. Decreased 4.89% from last month. Total Tucson Pending Sales: 947, Increased 39.88% from November 2008. Decreased 26.42% from last month. Tucson Average Sale Price: $188,384, Down 12.45% from $215,168 in 2008.Northwest Tucson Average Sale Price: $238,473 Down from $240,118 last month.
Catalina Foothills Average Sale Price: $308,86 Down from $431,410 last month. Total Tucson Active Listings: 6,350, Down 20.59% from 7,996 in November of 2008.
Northwest Tucson Active Listings: 1,643, Up 44 units from last month.
Catalina Foothills Active Listings: 697, Up 24 units from last month. Total Tucson New Listings: 1,564, Down 51 units from 1,615 in November of 2008.
Northwest Tucson New Listings: 388, Down 142 units from last month.
Catalina Foothills New Listings: 152, Down 34 from last month. Some quick conclusions we draw from these Tucson home sales statistics are: Positive Market Indicators this month. Total Units Sold up 54% over last year. Pending Sales up 40% over last year. Active listings down over last year by another 20%. Total Volume (total dollars sold) has increased 3 of the last 5 months, a strong indicator that the bottom has been passed and total dollars of homes sold is on it's way back up. This is the best this indicator has performed in over 4 years. A supporting indicator is the rate of decrease in average sales price is declining, indicating that the velocity of the year over year decline in prices has slowed dramatically. Negative Market Indicators this month. New Listings up again seasonally this month, Average Price down slightly this month. Sellers continue to feed inventory back into the system steadily expecting strong sales this winter. Nice listings, priced to sell & prepped to show well are selling quickly. Homes that do not show well are languishing on the market. Sales are strong and steady the 1st half of December. We expect a lull the 2nd half and then ramping back up rapidly for January, February & March. The Tucson Market Reports below will give you a detailed look inside the current Tucson Housing Market.
