Tucson Absorption Rates December 2008

There was a significant drop in the overall absorption rate for Tucson from November at 12.59 to December 9.84 Some of the areas of town showed marked improvement. A couple jumped up quite at bit. For instance the XNW saw a huge jump in absorption rate, but a quick look at the details shows 10 sold in Nov. and 6 sold in Dec. Statistically a large difference. But in actual numbers not so big a difference.

Check out the individual areas of town, keep in mind 6 months is considered a “normal” inventory.

 

Area

Dec Listed

Dec
Sold
Dec
AR

Nov Listed

Nov
Sold
Nov
AR
Sold YTD
N 725 51 14.21 782 45 17.36 840
NE 431 24 17.95 454 27 16.81 446
NW 1990 180 11.15 2011 157 12.80 2710
XNW 125 6 20.83 139 10 13.90 105
C 908 89 10.20 1007 69 14.59 1447
E 427 63 6.67 456 52 8.76 782
S 513 74 6.93 552 47 11.74 746
SE 600 75 8.00 622 65 9.56 1030
SW 586 84 6.97 594 63 9.42 846
XSW 315 20 15.75 310 16 19.37 285
XS 529 54 9.79 548 49 11.18 730
W 403 49 8.22 429 33 13.00 542
XW 66 5 13.20 78 2 39.00 61
  7,627 775 9.84 7,996 775 12.59  

 

Inventory is down by more than 300 from November to December. Considering all the economic turmoil in the country during December (including the auto industry grabbing much attention) and the daily changes going on in the lending industry we are seeing some rather positive signs in Tucson Real Estate for December.


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