Hey Everyone!
This is your Hard Money Lender in Tucson and the Southern Arizona area, Billy A. I found a great article from Inside Tucson Business regarding foreclosure activity in our region that’s worth sharing with you:
Foreclosures Hit 5-year Low
By Roger Yohem
The region’s housing market is clinging to modest, overall performance gains over the past 12 months despite disappointing data for September in two key measures.
September homes sales dropped an unexpected 20.4 percent compared to August, declining from 1,179 to 938 closings. That was the second-lowest total of 2012 behind January’s 915 sales. Through August, closings had been averaging 1,188 per month.
Year-to-date however, total 2012 sales exceed 2011 by 6 percent, or 605 homes. From January through September, 10,438 homes have closed compared to 9,833 during the same year-ago period. The new data is from the Tucson Association of Realtors Multiple Listing Service.
Regarding prices, September was another period of stability, the Realtors reported. For three consecutive months, the average sales price has held above the $180,000 mark. The level for September was $182,041, up about $2,000 over August.
One year ago, the average sales price was $150,699 or 21 percent less. For the fifth consecutive month, the median sales price held above $140,000, coming in at $144,950. One year ago, the level was $117,500, or 23 percent lower.
In September, the most home sales were in the $120,000 to $159,999 price range with 189 closings. Next highest was the $200,000 to $249,999 range with 90 sales. During the month, there were 146 homes priced at $1 million or more on the market and nine were sold.
Overall, the most listings were in the $300,000 to $399,999 range with 466 homes in inventory. From $200,000 to $249,999, there were 416 homes in inventory. At the price point of under $99,999, the service reported 688 listings.
Click here to see the entire article.
In the meantime we’ll keep watching these market fluctuations and let you know how they continue to affect our region. That’s it for this time! Make it another great day!
Your Hard Money Lender in Tucson and Southern Arizona,
Billy A
P.S. I want to be your favorite Hard Money Lender in Tucson and Southern Arizona, so please don’t keep me a secret! If you, your friends or family need help with funding, I’d be happy to give them free information without any obligation. Please give me a call at:
(520) 299-4878!
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