Douglas Trudeau , Assoc. Broker
Prudential Foothills Real Estate
64 N. Harrison Road, Suite 160
Tucson , AZ 85748
Mobile: 520-954-2209
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Has The Housing Market Begun To Correct Itself?
Everybody wants to know when the housing market will bottom out so they can get the best price. The truth is by the time anyone figures out the puzzle recovery will have already begun. An interesting article from the Wall Street Journal The Housing Crisis Is Over suggests that we on our way to a better market.
While the article mentions an 11 month inventory nation wide, Tucson has just under 9 months of inventory. Sales for the month of April were higher than anyone anticipated. April had nearly a 7% increase over what I predicted in December; and not all the sales have been turned in.
Interest rates have stayed low for months. There are a lot of good deals for buyers in the Tucson real estate market. If the market has not already corrected itself, there are a lot of indicators to suggest it is at least on the edge.
- Prices have stabilized,
- Inventory is dropping,
- Interest rates are low,
- Sales are increasing.
What will be the risk to those who wait too long?
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Anytime a market sees -
- Prices have stabilized,
- Inventory is dropping,
- Interest rates are low,
- Sales are increasing
Looks like you are moving to a much better market!
Congratulations -
May 9th, 2008 // Susan Hilton - Texas Aggie Realtor
Hey, if the market is picking up in your region, be very thankful, other places are still facing bad times… it almost comes down to the lucky listing…
May 22nd, 2008 // Javier Carrillo