The Tucson Association of Realtors has released it’s figures for the month of May- and the results are mixed.
Sales were down 14% year-over-year, falling from 1526 is May 2006 to 1313 in May 2007. This is the slowest May since 2002, when 1299 homes were sold. Pending sales are down 41% year-over-year as well, which doesn’t bode well for future summer sales:
Surprisingly, listings have dropped 6.4% from April. Last month was the second month that listings exceeded 10,000, with 10,387 homes listed. This month however, listings dropped well below that level to 9721. This is not a typical pattern for this time of year- generally the number of listings is more likely to decline in the winter months. Listings do remain high however, 15% higher than last year’s 8,423.
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