Active inventory levels in the Tucson MLS continue to trend lower. June 2008 saw 8,140 residential properties available. This represents a 6% decline from June 2007 and a 5% decline from May 2008.
Closings in June 2008 were at 1,034, up slightly from the prior month and 16% lower than June 2007.
This is the fifth month in a row Tucson has seen a reduction in active inventory along with an increase in closings. There are some well priced properties on the market, and buyers would serve themselves well to work with a professional real estate agent who is knowledgeable in the local market to navigate to the best opportunities. Market conditions can vary greatly by geographic area and price – real estate is in fact very localized. (Rosey Koberlein, Long Realty Company)