Tucson Housing Report February 2009

In total, there were 10,578 residential closings in 2008 valued at $2.56 billion in 2008 in Tucson.

As of January 2009 active inventory was 7,707, a 20% decrease from January 2008.

There were 573 closings in January 2009, a 6% decrease from January 2008.

Months of Inventory decreased to 13.5, down from 15.7 in January 2008.

Median price of sold homes was $162,500 for the month of January 2009, down 19% from January 2008.

New under contract properties in January 2009 increased 29% from January 2008,
helped by lower residential prices and historically low mortgage rates.

You can also get more details on my website http://www.silviacoggin.com/ under Market Reports, or contact me for market conditions in your specific neighborhood.