With the surge in home sales this spring due to the home buyer tax credit, we are now seeing, as expected, a slight decline in the number of homes being sold. According to the National Association of REALTORS® Chief Economist, Lawrence Yun, we will likely see a decline in home sales in July and August as well. Yun also noted 4.4 million Americans took advantage of the now expired home buyer tax credit. Two-thirds of those were first time homebuyers who received up to $8,000 towards the purchase of their home. One third were repeat buyers and were eligible to receive a $6,500 credit. One million out of the 4 million bought a home due to the credit.
Below are some highlights from the June Statistics:
- Year to date, we have sold 98.08% more homes, or 3,114 more homes than in 2009
- Unit sales are down about 8% from last month while Pending Contracts are up almost 19% over last month
- Active listings are up 1.63% over May
- New listings are up slightly over last month by 2.87% but compared to June of 2009, they have declined by 20.45%
- 33% of homes sold in June sold in 30 days or less
For the complete eleven page report shoot me an email and I’ll send it right over.
On a side note, the weather here in Tucson is killing me! I know it’s monsoon season but I’d much rather have the rain pouring down than the heat with the humidity hanging around. This weekend is supposed to be fairly stormy though and with showings lined up for Fri/Sat/Sun I hope my words don’t come back to bite me!
Check out these possibly related posts:
- Tucson Real Estate Market – June 2007 Analysis
- Tucson Real Estate Market – July 2007 Analysis
- Tucson Real Estate Market – April 2008 Analysis
- Tucson Real Estate Market – May 2008 Analysis
- The Tucson Real Estate Market Has Finally Plateaued.. What’s Next?
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