Tucson Real Estate News: Shining Up The Dull Side

Tucson recently made news for being the sickest real estate market in the country - the homeowner vacancy rate more than doubled since last year, home prices dropped another 18% and we have the highest foreclosure rate in the country.

But let's just polish up this dull news a little:

• We might have a high vacancy rate but a huge part of that is because Tucson is one of the top spots for snowbirds who leave for many months at a time - so don't let vacant homes scare you away!
• Tucson is a great market for investors and the demand here is actually up more than it is down based on sales stats - since July of last year sales increased over 41%. Just since January of 2011, 7,615 homes were sold.
• Tucson days on market for home sales went from 108 to 76 DOM and the average percent of list to sales price was over 95%.
• What goes down comes back up: According to Daily Finance - the top 5 Housing Markets where prices will increase by 2012:

Tacoma, WA - 24.9%

Palm Bay, FL - 18.3%

Seattle, WA - 10.2%

Tucson, AZ - 10.2%

Memphis, TN - 10%

• Of recent, I listen to Buyers, who have been waiting for even lower prices, complaining that they are missing out on good deals and that the selection of homes out there is decreasing.

There is not much more to say except, if you want to buy a home in Tucson - do it!