Are we in a housing Crisis? CNBC By Dennis Kneale

By Vallee Gold Team • September 27th, 2008

We have been reading all kinds of commentary regarding the housing crisis…mostly negative. We found a terrific commentary on CNBC by Dennis Kneale….enjoy the clip from CNBC.

The Tucson market continues to stabilize as our active inventory continues to decline. with 7,763 active listings, this shows a 13.95% decrease over a 2008 high of 9,022 in March. From July 2007 to August 2007, there was a 3.01% increase in active listings; from July 2008 to August 2008 there was a -1.43% decrease in active listings.
 
Our seasonal market for August and September, took a dip in total unit sales and this year we closed a little less than we did in August of 2007.
 
The Tucson 2008 average sales price of $238,504 continues to moving downward due to the short sales and foreclosures, in August 2007 the average sales price was $273,815.
 

 

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